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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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Netanyahu Cancels Israeli Delegation to U.S. After U.N. Ceasefire Vote

Israeli Prime Minister Benjamin Netanyahu has canceled an Israeli delegation’s planned visit to Washington, D.C., scheduled for this week. The decision came after the United States refrained from vetoing a United Nations Security Council resolution calling for an immediate ceasefire between Israel and Hamas in Gaza.

The U.N. Security Council’s resolution marks the first time it has demanded an immediate ceasefire since the war began. Fourteen out of fifteen countries voted in favor of the resolution, which specifically called for a halt to fighting in Gaza during the month of Ramadan. Notably, the resolution did not impose any preconditions, such as the release of hostages.

The United States’ abstention from voting was a significant shift. Just last week, the U.S. submitted a draft resolution calling for an immediate ceasefire without linking it to the release of hostages held by Hamas in Gaza. The change in position reflects a departure from decades of stalwart support for Israel.

U.S. Ambassador to the United Nations, Linda Thomas-Greenfield, emphasized the ongoing diplomatic efforts led by the United States, Qatar, and Egypt to secure an immediate and sustainable ceasefire. She stressed the need to alleviate the suffering of Palestinian civilians in Gaza, who are in dire need of protection and life-saving humanitarian assistance.

Netanyahu’s decision to cancel the delegation’s trip underscores the tension surrounding the UN vote and highlights the delicate balance between international diplomacy and regional conflict. As the situation continues to evolve, the world watches closely for any signs of progress toward peace in the troubled region.

Last October, President Biden met with Netanyahu in Tel Aviv, but recent events have strained the traditionally strong U.S.-Israel relationship.

As the conflict persists, the international community remains hopeful for a resolution that brings an end to the violence and paves the way for lasting peace in the Middle East.

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