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OAS Payments Are Bigger This July — Here's How Much More You'll Get

  July 21, 2026 If you or someone in your family collects Old Age Security, the deposit landing later this month is larger than the last one. Here's exactly why, and what the new numbers look like. Old Age Security payments went up 1.2% for the July-to-September 2026 quarter — the largest of the four scheduled increases so far this year. Combined with earlier adjustments, that puts OAS 2.3% higher than it was in July 2025. OAS amounts are reviewed every January, April, July, and October to track the Consumer Price Index. When the cost of living rises, the payment rises with it. When it falls, the payment simply holds steady — OAS is protected from ever decreasing. The new maximum monthly amounts Age Group April–June 2026 July–September 2026 Monthly Increase 65 to 74 $743.05 $751.97 +$8.92 75 and older $817.36 $827.17 +$9.81 Seniors 75 and up sit higher because of the permanent 10% top-up the federal government added to that age group's OAS back in July 2022. That bump applies...
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Canada's Economy: Canadian dollar drops to six-day low amid U.S. inflation fears

                                                


The Canadian dollar fell to its lowest level in six days on Wednesday, as investors were rattled by higher-than-expected U.S. inflation data that raised the prospect of tighter monetary policy south of the border.

The loonie traded at 79.32 U.S. cents, down 0.6% from Tuesday's close, after touching a low of 79.25 earlier in the session.

The U.S. consumer price index jumped 0.9% in June from May, the largest monthly increase since June 2008, and rose 5.4% on a year-over-year basis, the highest annual rate since August 2008.

The data fueled fears that the U.S. Federal Reserve may have to start tapering its bond-buying program and raising interest rates sooner than expected, which could boost the U.S. dollar and weigh on riskier currencies like the loonie.

"The market is clearly concerned that the Fed is behind the curve and will have to act more aggressively than previously anticipated," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

He added that the loonie was also pressured by a decline in oil prices, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to increase output from August, easing supply concerns.

Brent crude, the global benchmark, fell 2.3% to $74.76 a barrel, while West Texas Intermediate (WTI) dropped 2.8% to $73.13.

Cieszynski said the loonie could find some support from the Bank of Canada's policy decision on Wednesday, which is expected to maintain its current pace of bond purchases and keep its benchmark interest rate at 0.25%.

"The Bank of Canada has been more hawkish than the Fed, so that could provide some relief for the loonie," he said.

However, he noted that the bank may also express some caution about the outlook for the Canadian economy, given the recent surge in COVID-19 cases and the uncertainty over the reopening plans of some provinces.


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