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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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Israeli Army Orders Evacuation of Gaza City Suburb, Triggering Mass Displacement

 


The Israeli military has issued evacuation orders for a suburb of Gaza City, prompting thousands of residents to flee their homes amid fears of intensified military operations. The order, delivered via leaflets and loudspeaker announcements, directed residents to move south, citing the need to target Hamas infrastructure in the area.

The evacuation adds to the humanitarian crisis in Gaza, where over a million people have already been displaced since the conflict began. Families are scrambling to find shelter in overcrowded areas as food, water, and medical supplies run dangerously low.

“This is a nightmare. We don’t know where to go, and there’s no safe place,” said a resident forced to leave his home.

The Israeli Defense Forces (IDF) maintain that the evacuation is necessary to minimize civilian casualties during their military operations. However, international organizations have criticized the move, warning that it exacerbates the dire humanitarian situation in Gaza and places additional strain on relief efforts.

As calls for a cease-fire grow louder, the mass displacement highlights the urgency of finding a resolution to the escalating conflict.



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