From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
In a recent military operation, Israel reportedly used a powerful supersonic missile called “The Rampage” to strike Iran. The attack targeted a military base near the Iranian city of Isfahan. Here are the key details:
The Rampage Missile:
- The missile used in the alleged Israeli attack is a locally-developed air-to-surface weapon known as “The Rampage.”
- Manufactured by Israeli Military Industries Systems and Israel Aerospace Industries, this 4.7-meter (15-foot) rocket weighs over half a ton.
- Designed to penetrate and destroy protected areas, such as bunkers, The Rampage poses a significant threat to ground targets.
Supersonic Speed:
- The Rampage missile can travel at supersonic speed, making it difficult to detect and intercept using air defense systems like the Iron Dome.
- Its high velocity enhances its effectiveness in striking military bases and other strategic locations.
Escaping Radar Detection:
- The missile’s advanced technology allows it to evade Iran’s radar systems, as demonstrated in the recent attack near the Natanz nuclear site.
- Israeli officials have suggested that this move was “calibrated to make Iran think twice” before launching another direct attack on Israel.
While Israel has not officially commented on the strike, the use of The Rampage missile underscores the escalating tensions between Israel and Iran. As the situation continues to evolve, the international community closely monitors developments in the region.
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