Here are five things you need to know this morning
Bank of Canada interest rate announcement today
The Bank of Canada will announce its latest decision on interest today at 9:45am et. The Bank is widely expected to hold borrowing costs steady as policymakers weigh an increasingly uncertain outlook for oil prices against an improving economic backdrop. At their decision last month, BoC Governor Tiff Macklem said policymakers face a “dilemma” as they balance the inflation risks from higher energy prices against ongoing economic weakness. BNN Bloomberg will have extensive coverage today, including the rate announcement, instant expert analysis, and live coverage of the bank’s news conference beginning at 10:45 am et.
Canadian home sales edge up in June
Canadian home sales rose slightly for the third straight month in June. The number of sales increased by 0.5% from May, building slightly on the previous two months. The Canadian Real Estate Association now expects a decline in yearly sales compared to 2025 and has lowered its guidance for the year. However, the group says the slight gains over the past three months suggests a recovery in the market is taking place.
Ottawa gets top marks on internal trade
The federal government has gone from a C student to top of the class in its work to advance internal trade between provinces, says the Canadian Federation of Independent Business. In the federation’s latest annual report card on internal trade, the federal government jumped to an A-plus from the C grade it got in 2025. The CFIB says Canada has made unprecedented progress toward breaking down internal trade barriers long considered a self-imposed drag on the domestic economy.
Canfor closing B.C. pulp mill
Canfor is permanently closing its pulp mill in Prince George, British Columbia. The Northwood closure will result in an annual reduction of about 300,00 tonnes of pulp production. The sector has been hit with shifts in the global market, creating an oversupply and decrease in pulp prices, resulting in financial losses for the company. About 300 employees are impacted by the closure.
First Quantum mulling asset sale
Bloomberg News is reporting First Quantum Minerals is in talks to sell a stake in one of the world’s biggest undeveloped copper projects as rival miners and strategic investors rush to boost exposure to the metal. The report says Toronto-based First Quantum, which has copper mines in Zambia and Panama, is running a process to sell a minority stake in its Taca Taca project in Argentina. First Quantum problems at its flagship mine in Panama, which was closed by the country’s government in late 2023 after mass protests.
