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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 Military Announces Tactical Pause to Facilitate Aid Delivery in Southern Gaza

 

In a significant move, Israel’s military declared a “tactical pause” in its offensive operations along a 12-kilometer route in the southern Gaza Strip. The purpose of this pause is to allow for the delivery of increased quantities of humanitarian aid to desperate Palestinians who have been enduring a severe crisis due to the ongoing war. The announcement came after discussions with the United Nations and international aid agencies.

Key Points:

  • The pause begins at 8 a.m. (0500 GMT) and lasts until 7 p.m. (1600 GMT), continuing until further notice.
  • It specifically applies to the Rafah area, allowing aid trucks to reach the Israel-controlled Kerem Shalom crossing, a crucial entry point for aid.
  • The bottleneck at Kerem Shalom resulted from Israeli ground troops moving into Rafah earlier this year.
  • While this pause falls short of a complete cease-fire, it aims to address the overwhelming needs of Palestinians in the region.
  • The international community, including Israel’s top ally, the United States, has been advocating for more substantial measures to alleviate the crisis.
  • The hope is that smoother operations at checkpoints and regular fuel entry will follow this initial step.

As Muslims begin marking the major Eid Al-Adha holiday, this humanitarian effort seeks to provide much-needed relief to those affected by the conflict. While challenges remain, the pause represents a crucial step toward easing the crisis in Gaza.


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