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Bank of Canada Rate Decision Countdown: What to Expect on July 15

  Published July 4, 2026 In eleven days, the Bank of Canada will make its fifth interest rate call of 2026. If you've got a mortgage renewing, a variable rate that moves with the Bank's decisions, or savings sitting in a high-interest account, this is the date to have circled. Here's where things stand heading into July 15, and what the smart money is expecting. Where the rate sits right now The Bank of Canada has held its policy rate at 2.25% since its last two decisions, with the Bank Rate at 2.50% and the deposit rate at 2.20%. The July 15 announcement, released at 9:45 a.m. ET, will also come with a full Monetary Policy Report, since the Bank publishes its detailed economic projections quarterly alongside the January, April, July, and October decisions. Why most economists expect another hold The case for standing pat comes down to two forces pulling in opposite directions: Inflation is running hot, but mostly for one reason. Canada's headline inflation rate jumped...
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Iran Fires Air Defenses at Isfahan Base and Nuclear Site After Drones Spotted



In a dramatic turn of events, Iran’s air defenses were activated early Friday morning near the central city of Isfahan. The reason? Suspected Israeli attack drones were spotted in the vicinity of a major air base and a nuclear site. The incident comes as a retaliation for Tehran’s unprecedented drone-and-missile assault on Israel.

While no Iranian official directly acknowledged the possibility of an Israeli attack, tensions have been running high since the Saturday assault on Israel during its conflict with Hamas in the Gaza Strip. Israel has also been targeting Iran in Syria, further escalating the situation.

Italian Foreign Minister Antonio Tajani revealed that the U.S. received “last-minute” information from Israel about the attack on Isfahan. However, U.S. Secretary of State Antony Blinken clarified that the U.S. was not involved in any offensive operations.

The apparent attack coincided with Iranian Supreme Leader Ayatollah Ali Khamenei’s 85th birthday. Israeli politicians have hinted at their country’s involvement in the incident, but the Israeli military has remained silent on the matter.

Air defense batteries were activated in several provinces as reports of drones circulated. Iranian army commander Gen. Abdolrahim Mousavi confirmed that crews targeted several flying objects. Fortunately, the explosion in the sky of Isfahan caused no damage.

The Isfahan air base, which houses Iran’s fleet of American-made F-14 Tomcats, was one of the targets. Additionally, the nuclear site near Isfahan, known as the Uranium Conversion Facility, was also under scrutiny. This facility handles fuel production and other activities related to Iran’s civilian nuclear program.

As tensions continue to simmer, the situation remains precarious. The world watches closely, hoping for a de-escalation of hostilities between Iran and Israel.

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