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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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Ford Calls for Early Election Amidst Political Turmoil


Ontario Premier Doug Ford is set to request the dissolution of the provincial parliament today, triggering an early election scheduled for February 27. Ford's office announced that he will visit Lt.-Gov. Edith Dumont this afternoon to end the legislature's 43rd parliament. Ford has stated that he needs a new mandate from the electorate to address issues related to U.S. President Donald Trump.

Opposition leaders, including NDP Leader Marit Stiles, Liberal Leader Bonnie Crombie, and Green Party Leader Mike Schreiner, have criticized the decision, calling it a waste of time and money. Despite the controversy, Ford plans to continue his duties as premier, including a visit to Washington, D.C., in February with other premiers, while also campaigning as the leader of the Progressive Conservatives.

The early election call comes amidst a backdrop of political and economic challenges, with Ford seeking to solidify his position and address pressing issues facing the province.

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