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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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New Diplomacy on the Horizon: U.S. and Russia Push Ahead Without Ukraine

 

In a bold shift from previous diplomatic efforts, top U.S. and Russian officials have agreed to advance negotiations aimed at ending the war in Ukraine—even as Ukrainian representatives remain notably absent. High-level talks held in Riyadh, Saudi Arabia, saw U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov discussing the framework for future peace negotiations and steps toward restoring bilateral relations.

The Trump administration’s approach, which prioritizes direct engagement with Moscow, marks a departure from longstanding principles that insisted on “nothing about Ukraine without Ukraine.” Critics in Kyiv have voiced strong opposition. Ukrainian President Volodymyr Zelenskyy warned that any agreement reached without Ukraine’s participation would be unacceptable and would undermine the nation’s sovereignty. European leaders echoed these concerns, with several officials labeling the move as a dangerous precedent that could lead to a “dirty deal” and embolden further Russian demands.

Analysts note that the absence of Ukraine from the negotiation table reflects a transactional mindset, one that appears to value immediate economic and strategic concessions over the long-term security guarantees essential for lasting peace. While U.S. officials are optimistic—citing the talks as a “highly productive” first step—the outcome remains uncertain. Critics argue that sidelining Ukraine could ultimately sacrifice key security interests and further destabilize an already volatile region.

For now, the dialogue is only the opening chapter in what promises to be a complex and protracted negotiation process. As both sides prepare for further discussions, the international community watches closely, aware that the stakes extend far beyond bilateral U.S.–Russia relations and into the broader security architecture of Europe.


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