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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...
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G7 Commits to Accelerating Fossil Fuel Transition, but Activists Remain Skeptical

 

Leaders of the Group of Seven (G7) developed democracies have pledged to accelerate their transition away from fossil fuels during this decade. The draft statement from their summit in Italy outlines a commitment to achieve net-zero emissions by 2050, in line with the best available science. However, climate activists remain critical, citing a lack of concrete commitments and the fact that many pledges were already agreed upon in previous meetings. The G7’s focus on phasing out coal power generation and reducing methane emissions is commendable, but some environmentalists express disappointment over the allowance for public investments in natural gas. As the COP29 United Nations climate conference approaches, the G7 leaders plan to submit more ambitious national climate plans. 

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