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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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Ceasefire Deliberations Continue Amidst Tensions in Gaza

 

The latest ceasefire proposal by Israel has been met with skepticism by Hamas, stating that it falls short of the Palestinian demands. Despite this, the offer is currently under review, as confirmed by Hamas on Tuesday. The proposal, which was conveyed through Egyptian, Qatari, and American mediators, has not been publicly detailed, but it is known to address the cessation of hostilities in the Gaza Strip.

The ongoing conflict has seen a significant escalation, with Israeli Prime Minister Benjamin Netanyahu announcing plans for a military ground offensive into Rafah, a densely populated area in Gaza. This move has raised concerns about the potential for increased civilian casualties and further devastation.

As the international community watches closely, the outcome of these ceasefire talks could be pivotal in determining the next phase of the conflict. Hamas has expressed its commitment to reaching an agreement that would end the aggression against the Palestinian people, yet it remains to be seen whether Israel’s proposal will be deemed acceptable.

The review of the ceasefire proposal comes at a critical juncture, with the United Nations committee set to review Palestine’s status as a full state member this month. Meanwhile, the region continues to grapple with the humanitarian crisis unfolding as a result of the six-month-long conflict.

Hamas’s response to the ceasefire proposal is highly anticipated, as it will signal the potential for progress or the likelihood of continued hostilities in the region.

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