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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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Trudeau Acknowledges: Trump's Annexation Threat Is More Than Just Banter

In a surprising hot-mic moment at a closed-door business summit in Toronto, Canadian Prime Minister Justin Trudeau candidly remarked that U.S. President Donald Trump’s talk of absorbing Canada as the “51st state” might be more than just playful rhetoric. Speaking to a group of business and labor leaders, Trudeau suggested that Trump’s persistent focus on Canada’s abundant critical minerals and economic assets could indicate a serious—if unlikely—plan to use economic pressure to reshape North American trade relations.

Trudeau’s off-the-record comments, inadvertently captured when his microphone was left on, reveal growing concern among Canadian officials about the long-term political and economic implications of Trump’s expansionist language. While public statements from both leaders have dismissed the notion as mere jest, the prime minister’s remarks underscore that the threat of steep tariffs and aggressive trade tactics is real enough to prompt a strategic national response.

Despite the provocative exchange, Canadian leaders remain united in dismissing any possibility of annexation. They emphasize that Canada’s legal framework, political will, and national pride make any merger with the United States practically unfeasible. The incident has reignited debates on how best to safeguard Canada’s economic interests and reinforce its sovereignty amid unpredictable U.S. policies.

Trudeau’s unexpected admission serves as a reminder that beneath the surface of international trade negotiations and political posturing, the stakes remain high for Canada as it navigates a challenging relationship with its powerful neighbor.

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