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Bank of Canada Rate Decision Countdown: What to Expect on July 15

  Published July 4, 2026 In eleven days, the Bank of Canada will make its fifth interest rate call of 2026. If you've got a mortgage renewing, a variable rate that moves with the Bank's decisions, or savings sitting in a high-interest account, this is the date to have circled. Here's where things stand heading into July 15, and what the smart money is expecting. Where the rate sits right now The Bank of Canada has held its policy rate at 2.25% since its last two decisions, with the Bank Rate at 2.50% and the deposit rate at 2.20%. The July 15 announcement, released at 9:45 a.m. ET, will also come with a full Monetary Policy Report, since the Bank publishes its detailed economic projections quarterly alongside the January, April, July, and October decisions. Why most economists expect another hold The case for standing pat comes down to two forces pulling in opposite directions: Inflation is running hot, but mostly for one reason. Canada's headline inflation rate jumped...
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Ontario Premier Doug Ford Calls Snap Election for February 27

Ontario Premier Doug Ford is set to call a snap election next week, sending voters to the polls on February 27. This unexpected move comes as Ford seeks a fresh mandate to address the looming threat of tariffs from the United States under President Donald Trump. The provincial election, originally scheduled for June 2026, has been advanced as Ford emphasizes the need for a "strong mandate" to protect Ontario's economy and jobs.

Ford's decision has sparked criticism from opposition leaders, who accuse him of prioritizing his political career over the province's stability. Ontario Liberal leader Bonnie Crombie expressed her disapproval, stating that Ford has chosen "recklessness over responsibility". Despite the controversy, recent polls indicate that Ford's Progressive Conservative Party holds a significant lead, with 46% of respondents supporting the Conservatives.

The upcoming election will be the first mid-winter election in Ontario since 1981. As the province braces for this unexpected political event, all eyes will be on Ford's announcement next week and the subsequent campaign trail.

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