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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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Israel’s Expanding Offensive in Central Rafah: A Closer Look

 

The Israeli military has officially confirmed that its forces are operating in central parts of Rafah as part of an expanding offensive in the southern Gaza city. This development comes after Israel launched a ground assault into Rafah on May 6, triggering an exodus of approximately 1 million Palestinians from the city and disrupting U.N. humanitarian operations in the area.

Key Points:

  1. Citywide Operations: The Israeli military statement suggests that its forces have been operating in most parts of Rafah, including both eastern districts and areas close to the border with Egypt. Israeli troops seized the Rafah crossing into Egypt on the first day of the offensive and have since claimed control over the Philadelphi Corridor, a road running along the Gaza-Egypt border on the Gazan side.
  2. Recent Developments: Earlier this week, Israeli troops also moved into Rafah’s western district of Tel al-Sultan, where heavy clashes with Hamas fighters have been reported by witnesses.
  3. Hamas Presence: The offensive aims to uproot Hamas fighters, following the group’s October 7 attack on southern Israel. In central Rafah, Israeli troops have uncovered Hamas rocket launchers, tunnels, and dismantled a weapons storage facility.
  4. Humanitarian Impact: The exodus of Palestinians from Rafah has led to a scattered population across southern and central Gaza. Most of them now live in squalid tent camps, with up to around 300,000 people believed to remain in the area. Some still reside in the central urban parts of Rafah, while others have sought refuge in rural areas near the coast, which have also been targeted by Israeli strikes and shelling.

Despite the ongoing offensive, U.S. President Joe Biden has emphasized that Israel has not crossed the “red lines” of a full-fledged invasion that he had urged them against. The situation remains tense, and humanitarian organizations continue to grapple with the challenges posed by the conflict.



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