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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...
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Ottawa’s “Better Homes” Program: A Dual Solution for Climate Change and Affordability

 

Ottawa, the vibrant capital city of Canada, is stepping up its game to address two pressing challenges simultaneously: climate change and the affordability crisis. The recently launched “Better Homes” program aims to empower homeowners to retrofit their dwellings, making them more environmentally friendly while easing financial burdens.

The Better Homes Program: What You Need to Know

  1. Interest-Free Loans: Ottawa homeowners can now apply for low-interest loans to fund home retrofits. These upgrades include replacing windows, adding insulation, installing heat pumps, or setting up electric vehicle chargers. The loan amount is tied to the home’s value, allowing borrowers to access up to 10% of their property’s value, capped at $125,000.

  2. Long-Term Repayment: The loans are repaid over a 20-year period through property tax bills. This innovative approach ensures that the financial burden aligns with the benefits gained from energy-efficient improvements.

  3. Green Transition: Residential buildings contribute significantly to greenhouse gas emissions. By focusing on heating, cooling, and electrifying homes and office spaces, Ottawa aims to reduce its carbon footprint. The Better Homes program encourages homeowners to embrace greener alternatives.

  4. Expert Guidance: The City of Ottawa has partnered with the environmental non-profit EnviroCentre to offer free energy retrofit planners to interested homeowners. These experts guide residents through the retrofit process, ensuring effective implementation.

Why It Matters

  • Climate Action: Retrofitting homes directly impacts Ottawa’s emissions. By enhancing energy efficiency, we move closer to achieving the city’s ambitious goal of net-zero emissions by 2050.

  • Affordability: The Better Homes program recognizes that affordability and sustainability go hand in hand. It empowers homeowners to make cost-effective changes that benefit both their wallets and the planet.

  • Community Engagement: Educating diverse demographics about available support is crucial. City staff play a pivotal role in bridging this gap and ensuring that every homeowner can participate.

As Ottawa pioneers this initiative, it sets an example for other cities grappling with similar challenges. The Better Homes program proves that tackling climate change need not come at the expense of affordability—it’s a win-win for all.


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