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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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Wall Street Slips Again, Heading for Third Losing Week in Four

 

Wall Street faced another downturn early Friday, setting the stage for its third losing week in the last four. The S&P 500 futures fell by 0.5%, while the Dow Jones Industrial Average futures dropped 0.4%. This decline follows a period of mixed economic signals and cautious comments from Federal Reserve Chair Jerome Powell regarding future interest rate cuts.

Despite a strong economy, recent inflation reports have been mixed, causing uncertainty about the Fed’s next moves. Investors are also keeping an eye on upcoming retail sales data, which could provide further insights into the economic outlook.

In corporate news, shares of Domino’s Pizza and Pool Corp. surged after reports that Warren Buffett’s Berkshire Hathaway had taken significant positions in these companies. Conversely, Ulta Beauty saw a decline after Berkshire reportedly sold most of its shares.

As the market navigates these fluctuations, investors remain cautious, awaiting clearer signals from economic data and the Federal Reserve’s decisions.






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