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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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China Warns 'No One Will Win a Trade War' After Trump's Tariff Threat

 

 China has issued a stern warning to U.S. President-elect Donald Trump following his announcement of a 10% tariff on all Chinese imports. The Chinese Embassy in Washington emphasized that "no one will win a trade war," highlighting the mutual benefits of U.S.-China economic and trade cooperation.

Trump's proposed tariffs are part of his broader strategy to combat illegal immigration and drug trafficking, particularly fentanyl. He stated that these tariffs would remain until China takes significant measures to halt the flow of drugs into the United States.

Chinese officials have pushed back against these claims, pointing to recent efforts to curb the export of fentanyl precursors and other narcotics-related measures. The embassy spokesperson, Liu Pengyu, reiterated that the idea of China knowingly allowing fentanyl precursors to flow into the U.S. runs counter to facts and reality.

As tensions escalate, the global community watches closely, aware that a trade war between the world's two largest economies could have far-reaching consequences.



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