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5 Things to Know Today: BoC Holds at 2.25%, Oil Spikes, CCB Boost

  Wednesday, July 15, 2026 Good morning. The Bank of Canada made its call this morning, oil is on the move again because of the Middle East, and a bigger government deposit is about to hit millions of accounts. Here's what actually matters for your wallet today. 1. The Bank of Canada held its key rate at 2.25% As widely expected, the Bank of Canada left its overnight rate unchanged at 2.25% this morning, alongside a fresh Monetary Policy Report. It's the sixth straight hold since the easing cycle paused last fall. The Bank says it's looking through the near-term inflation bump caused by higher oil prices from the conflict in the Middle East, but has made clear it won't let that become a persistent trend. What it means for you: Prime rate stays at 4.45%. If you're on a variable-rate mortgage or HELOC, your payment doesn't change this month. Fixed-rate shoppers should watch bond yields, not the BoC rate, for the next move in posted rates. 2. Oil prices are spik...
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Ontario Braces for Severe Weather: Blizzard Warnings and Damaging Winds

A powerful cold front is sweeping across Ontario, bringing with it damaging winds and blizzard conditions that have prompted widespread warnings. Environment and Climate Change Canada (ECCC) has issued blizzard warnings, wind warnings, and special weather statements for much of the province.

The hazardous mix of heavy snowfall and strong winds is expected to create dangerous driving conditions and reduce visibility. The eastern shores of Lake Superior and Georgian Bay, including communities like Wawa, Batchawana Bay, and Parry Sound, are likely to experience whiteout conditions and lake-enhanced snowfall.

In southern Ontario, including the Greater Toronto Area (GTA), wind gusts of up to 70-90 km/h are anticipated, with the potential for localized power outages. Motorists are advised to postpone non-essential travel and ensure their devices are fully charged if they must travel.

As temperatures drop overnight, residents can expect frigid conditions with wind chills making it feel even colder. Environment Canada urges everyone to stay informed about the latest weather alerts and to exercise caution when commuting.




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