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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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Trump Picks Pam Bondi for Attorney General as Matt Gaetz Withdraws Amid Scandal

 

Former President Donald Trump has tapped former Florida Attorney General Pam Bondi to serve as his Attorney General in his 2024 presidential campaign’s proposed Cabinet. The announcement comes after Rep. Matt Gaetz withdrew from consideration amid allegations of sexual misconduct, which he has consistently denied.

Bondi, a staunch Trump ally, served as Florida’s Attorney General from 2011 to 2019 and was a prominent figure in Trump’s impeachment defense team in 2020. Known for her conservative stance on legal and social issues, Bondi’s appointment signals a continuation of Trump’s alignment with loyalists in key roles.

Other Key Cabinet Picks

Trump has also outlined several other choices for his potential Cabinet. These include:

  • Mike Pompeo as Secretary of State: Pompeo previously held the position during Trump’s first term, where he spearheaded diplomatic efforts like the Abraham Accords.
  • Larry Kudlow as Treasury Secretary: Kudlow, Trump’s former economic advisor, is a prominent advocate for supply-side economics.
  • Rick Perry as Energy Secretary: Perry, a former Texas governor, held this position during Trump’s earlier administration and remains a proponent of fossil fuel development.

Gaetz, a controversial figure in the Republican Party, withdrew his name after facing renewed scrutiny over past allegations of sexual misconduct. The claims have resurfaced in the wake of Trump’s consideration of him for the Attorney General post, despite Gaetz’s continued denials.

As Trump moves forward with his campaign, his Cabinet selections underline his strategy of leaning on familiar faces and staunch allies to help shape his policy direction.


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