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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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Luxury Superyacht Sinks Off Italy Coast: Search Resumes for Missing Passengers

 

Rescue teams and divers are intensifying their efforts to locate six missing passengers after a luxury superyacht sank during a violent storm off the coast of Sicily. The yacht, named the Bayesian, was carrying 22 people when it capsized. Here’s what we know:

  • The Missing:
    • Mike Lynch: A British tech magnate, often referred to as “Britain’s Bill Gates.”
    • Jonathan Bloomer: Chairman of Morgan Stanley International.
    • Chris Morvillo: A lawyer from Clifford Chance.
    • Others: The missing also include Lynch’s daughter and the wives of Bloomer and Morvillo.
  • Rescue Challenges:
    • The yacht lies approximately 164 feet underwater, complicating the search.
    • Divers are working in 12-minute shifts due to the depth.
    • Obstructions inside the wreck hinder navigation.
  • Survivors:
    • Fifteen people were rescued by nearby boats and brought ashore.
    • Lynch’s wife and 14 others survived.
    • Tragically, one person lost their life.

The incident has sent shockwaves through the maritime community, leaving many hoping for a successful rescue operation. Our thoughts are with the families of the missing passengers during this difficult time.


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