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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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Desperate Struggle for Survival: Palestinians Risk Death in Gaza’s Aid Rush

 

The sun beats down mercilessly on the war-torn streets of Gaza. Amid the rubble and despair, a desperate struggle unfolds—a life-or-death scramble for aid. For Palestinians like Omar Deeb, hunger has become a relentless adversary, forcing them to embark on what they grimly refer to as “death missions.”

Omar Deeb, a 37-year-old father of six, recounts his harrowing experiences. “If I go,” he says, “we eat. And if I don’t, we don’t eat.” His family resides in a makeshift shelter—a school that now doubles as their refuge. But securing sustenance is no simple task.

The Israeli ground and air campaign, raging for six months, has left a trail of devastation. Over 32,000 Palestinians have lost their lives, and more than 75,000 bear the scars of wounds inflicted by the conflict. Israel’s offensive, triggered by a Hamas attack on southern Israel, has plunged Gaza into an abyss of suffering.

Deeb’s quest for survival has led him to the frontlines. He narrowly escaped Israeli tank fire while scouring for food. Yet, he witnessed others fall victim to the same perilous pursuit. Pieces of a shattered building struck him as he reached for flour from aid trucks entering northern Gaza. His wounds remain unhealed, a testament to the desperate lengths he goes to feed his family.

But the dangers persist. On February 29, over 100 people lost their lives as they ventured toward aid. Israel contends that these deaths occurred due to trampling or collisions with aid trucks. On March 23, gunfire erupted at an aid drop point near Gaza’s Kuwait roundabout, claiming more lives. The Popular Committees, a group formed to secure aid convoys, suffered heavy losses.

“Every time (I go),” Deeb confides, “it feels like the last time.” He bids farewell to his wife and children, knowing that each mission could be his last. His five-year-old son already fell victim to an Israeli strike on their home in December.

The United Nations warns of an impending famine, and the U.S. echoes the same dire prediction. The struggle for survival in Gaza is etched in desperation—a race against time, hunger, and the specter of death.

As aid falls from the sky, Palestinians risk everything to grasp a lifeline. In this besieged enclave, where hope flickers like a fragile flame, the battle for sustenance becomes a fight for life itself.

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