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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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Israel Strikes Iran with Supersonic ‘Rampage’ Missile

 

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:

  1. 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.

  2. 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.

  3. 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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