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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Wall Street and Global Markets Take a Dip After Holiday Weekend

 

Wall Street and global markets started the week on a bearish note, with the S&P 500 and Dow Jones Industrial Average futures down 0.3% and 0.2%, respectively, before the bell. The Hong Kong benchmark index fell more than 2%, and investors were left without cues from overnight trading due to the holiday weekend.

Investors have been betting on the Federal Reserve cutting its main interest rate six or more times through 2024, a much more aggressive track than the Fed itself has hinted at. However, after a roaring start to the year, investors are growing a bit more cautious about how soon the Fed will begin cutting interest rates, how quickly, and by how much.

The first quarter of this year may be marked by the realization that it’s too early for the central banks to cut the interest rates unless something really bad hits the fan.

Microsoft rose about 0.7%, to $391.25 per share, before the bell Tuesday, vaulting past Apple to become the world’s most valuable publicly-traded company with a market capitalization of $2.89 trillion.


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