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5 Things to Know Today: BoC Holds at 2.25%, Oil Spikes, CCB Boost

  Wednesday, July 15, 2026 Good morning. The Bank of Canada made its call this morning, oil is on the move again because of the Middle East, and a bigger government deposit is about to hit millions of accounts. Here's what actually matters for your wallet today. 1. The Bank of Canada held its key rate at 2.25% As widely expected, the Bank of Canada left its overnight rate unchanged at 2.25% this morning, alongside a fresh Monetary Policy Report. It's the sixth straight hold since the easing cycle paused last fall. The Bank says it's looking through the near-term inflation bump caused by higher oil prices from the conflict in the Middle East, but has made clear it won't let that become a persistent trend. What it means for you: Prime rate stays at 4.45%. If you're on a variable-rate mortgage or HELOC, your payment doesn't change this month. Fixed-rate shoppers should watch bond yields, not the BoC rate, for the next move in posted rates. 2. Oil prices are spik...
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Erdogan’s Bold Threat: Turkey’s Potential Military Intervention in Israel

 

In a recent and highly provocative statement, Turkish President Recep Tayyip Erdogan has suggested that Turkey might intervene militarily in Israel to support the Palestinians. This declaration was made during a party meeting in Rize, where Erdogan drew parallels to Turkey’s past interventions in Nagorno-Karabakh and Libya.

Erdogan emphasized the need for Turkey to be strong to prevent Israel from continuing its actions against the Palestinians. He stated, "Just as we entered [Nagorno-]Karabakh, just as we entered Libya, we might do the same to them. There is nothing we can’t do. We must only be strong.

This rhetoric has sparked significant concern and backlash. Israeli Foreign Minister Israel Katz compared Erdogan to the late Iraqi dictator Saddam Hussein, highlighting the potential for severe geopolitical repercussions. The Turkish leader’s comments come amid ongoing conflict between Israel and Hamas in Gaza, further escalating tensions in the region.

Erdogan’s statements have been met with mixed reactions globally, with many fearing the implications of such a move by a NATO member. The international community watches closely as the situation develops, hoping for a peaceful resolution to the escalating conflict.


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