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The Rate Cuts Are Over — Is a Hike Coming?

  July 23, 2026 Oil shocks, sticky inflation and a technical recession are pulling the Bank of Canada in opposite directions at once. For most of the past two years, the only question about the Bank of Canada was how far and how fast it would cut. The overnight rate fell from 5.00% to 2.25% between June 2024 and October 2025, one of the sharpest easing cycles in the Bank's history, and it has held there through six consecutive decisions since. That story is now over. The question on the table for the rest of 2026 isn't whether the Bank cuts again — it's whether the next move is actually a hike. Two conflicting signals, one Bank The case for staying put — or even cutting — comes from the growth side of the ledger. Statistics Canada data showed the economy contracted in both the fourth quarter of 2025 and the first quarter of 2026, meeting the informal definition of a technical recession. That was enough to have some economists warning the Bank had no room to raise rates at a...

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Your daily horoscope: August 8, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

A new friendship, or maybe even a new romance, will light up your life over the next 12 months and the pleasure you get from it will have a knock-on effect on your working relationships as well. Treat people well and they will treat you even better.

ARIES (March 21 - April 20):

You may be tempted to retreat into your shell and keep the big, bad world at bay but that approach is unlikely to work for long. Instead, try identifying why you are under so much pressure and then find innovative ways to do something about it.

TAURUS (April 21 - May 21):

It’s quite possible that you could go over the top emotionally today, especially if you feel that you are being ignored or in some other way treated unfairly. Whatever the provocation, don’t lose your cool, because it may take a while to find it again.

GEMINI (May 22 - June 21):

Mars in your sign makes it easy for you to take chances but other aspects warn this may not be the best time to push boundaries. Also, if someone you work with is critical of your actions find out why they feel that way, don’t just get angry.

CANCER (June 22 - July 23):

Venus in the travel area of your chart makes this a good time to get away with family and friends but as Mercury is now moving retrograde you must plan your route carefully. If you just head out into the wide blue yonder you could get lost!

LEO (July 24 - Aug. 23):

You may be of the opinion that if you had more cash in your pocket you would be happier but that isn’t necessarily true. Attitude is everything and if you think rich today you will be rich in ways that don’t just require more money or possessions.

VIRGO (Aug. 24 - Sept. 23):

Whatever your No. 1 passion happens to be that is what you must focus on today. Others may say you should concentrate more on tasks that they want you to do but they are wrong – nothing matters more now than your own personal happiness.

LIBRA (Sept. 24 - Oct. 23):

Try not to pay too much attention to what is going on around you today because if you focus on what other people are saying and doing you will be easily distracted. You have an important task to take care of, so pretend you can’t see or hear them.

SCORPIO (Oct. 24 - Nov. 22):

In the greater scheme of things there is no such thing as coincidence and what occurs over the next 24 hours will make you aware that a number of seemingly random events are coming together in a very unrandom way – and very much to your benefit.

SAGITTARIUS (Nov. 23 - Dec. 21):

You may want to believe that a friend or family member can do no wrong but the planets indicate they have in fact made a major error that needs to be dealt with. No one is perfect, not even you, so don’t be too hard on them.


CAPRICORN (Dec. 22 - Jan. 20):

Cosmic activity in the most adventurous area of your chart makes it easy to start something new but because mind planet Mercury is going through its retrograde phase you must plan carefully every step of the way. Be daring but don’t be reckless.

AQUARIUS (Jan. 21 - Feb. 19):

It would appear that someone is trying to keep you in the dark about a situation you want to know more about. You have every right to dig deeper and find out what is going on but there is no guarantee you will be delighted by what you find.

PISCES (Feb. 20 - Mar. 20):

You seem to be flavour of the month at the moment and long may that happy situation continue, but don’t fall into the trap of thinking you can do as you please without fear of the consequences. Others people’s goodwill is unlikely to be limited.

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