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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’s Strategic Triumph: Intercepting Over 300 Iranian Drones and Missiles


In an unprecedented escalation, Iran unleashed a barrage of more than 300 drones, ballistic missiles, and cruise missiles toward Israel. The attack, which unfolded on Sunday, marked the first-ever direct assault by the Islamic Republic on the Jewish state.

The Israeli Defense Forces (IDF) swiftly sprang into action, tracking the incoming threats. Their vigilance paid off: an astounding 99% of the launched drones and missiles were intercepted. This remarkable achievement underscores Israel’s robust aerial defense capabilities and its unwavering commitment to safeguarding its security.

Strategic Success Amidst Tensions

  • Iran’s retaliation mission was triggered by simmering tensions in the Middle East. The IDF’s preparedness and swift response demonstrated that Israel’s enemies cannot effectively threaten its safety.
  • The attack involved more than 100 drones, which were closely monitored by the Israeli Air Force. These drones were expected to reach Israeli airspace within hours, prompting the IDF to intercept them before they posed a direct threat.
  • Additionally, the IDF remained vigilant against potential follow-up attacks, including the deployment of ballistic missiles or cruise missiles. The defense forces adjusted their readiness accordingly.

Airspace Closures and Security Measures

  • Jordan and Iraq temporarily shut down their airspace in response to the incoming threat, emphasizing the regional impact of the situation.
  • Israel also took precautionary measures, announcing the closure of its airspace from Sunday at 12:30 a.m. until further notice. This decision led to flight cancellations and underscored the gravity of the unfolding events.
  • Prime Minister Benjamin Netanyahu and top defense leaders convened for a security assessment at military headquarters in Tel Aviv, evaluating the situation and reinforcing Israel’s readiness.

The Defense Continues

  • IDF Spokesman Rear Adm. Daniel Hagari emphasized that while Israel possesses an excellent aerial defense array, it is not hermetically sealed. The ongoing vigilance and adaptability remain crucial.
  • Sirens would sound only if the drones breached Israeli airspace, signaling imminent danger at specific locations.

In summary, Israel’s successful interception of over 300 Iranian drones and missiles stands as a testament to its unwavering commitment to security and its ability to defend against unprecedented threats. The Middle East remains on high alert, but Israel’s strategic triumph offers hope in the face of adversity.

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