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Bank of Canada Holds at 2.25% — What the Fine Print Means for You

  July 15, 2026  |  Canadian Money Brief The Bank of Canada held its policy rate at 2.25% today, exactly as every economist surveyed expected. The number didn't move — but the story underneath it did. Between renewed oil-market chaos, a stubbornly hot inflation reading, and an economy that's finally showing signs of life, this "boring" hold decision was anything but simple. If you've been following our preview piece from earlier this week , this is the follow-up: what actually happened, and what it means for your mortgage, your savings, and your grocery bill. The Decision, in Plain English This marks the sixth consecutive hold since the Bank's last cut back in October 2025. The overnight rate stays at 2.25%, the Bank Rate at 2.5%, and the deposit rate at 2.20%. Bank prime — the number that actually determines your variable mortgage or line of credit rate — stays put at 4.45%. Governor Tiff Macklem has described this level as sitting near the bottom of the Bank...
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Destruction in Deir al-Balah: Tragedy Unfolds After Israeli Airstrikes

In a heart-wrenching turn of events, the central town of Deir al-Balah and the Nuseirat camp in the Gaza Strip bore witness to devastating destruction caused by Israeli overnight airstrikes. The toll is staggering: at least 58 lives, including innocent children, have been lost, as confirmed by health officials and an Associated Press journalist.

The haunting images of rubble and shattered walls tell a grim tale. Between December 7 and 8, the Yaffa Mosque in central Deir al-Balah was obliterated, leaving the once-proud structure leveled. The neighboring Yaffa Hospital also suffered severe damage, its walls bearing the scars of conflict.

As the world grapples with the aftermath of this tragedy, we must not forget the human cost—the lives forever altered, the families shattered, and the pain etched into the hearts of those who survived. The international community must stand united in seeking peace and justice for the victims of this senseless violence.

Let us remember the names and faces of those lost, and let their memory fuel our collective resolve to prevent such horrors from repeating. 

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