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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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Armed Militants Kill Priest and Police in Attacks on Churches and Synagogue in Dagestan

 

Armed militants launched a series of attacks in Russia's southern republic of Dagestan, resulting in the deaths of a priest and six police officers. The incidents occurred at two Orthodox churches, a synagogue, and a traffic police post.

According to Russian state news agency RIA Novosti, the assailants targeted a synagogue and a church in the city of Derbent, located on the Caspian Sea. The attackers fled the scene, prompting a search operation by authorities. Two militants were reportedly "eliminated" during the pursuit.

Simultaneously, a traffic police post in the capital of Dagestan, Makhachkala, was also attacked. Six policemen lost their lives, and 12 others were injured in this separate incident.

While no group has claimed responsibility for the attacks, some officials in Dagestan have pointed fingers at Ukraine and NATO. However, Ukrainian authorities have not yet commented on the situation.

President Ramzan Kadyrov of neighboring Chechnya condemned the violence, describing it as a "vile provocation" aimed at sowing discord between religious communities.

The situation remains tense, and authorities are investigating the motives behind these tragic events.


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