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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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Mark Carney to Contest Nepean Seat in Upcoming Election

Mark Carney, the leader of the Liberal Party and former governor of the Bank of Canada, has announced his candidacy for the Ottawa riding of Nepean in the upcoming federal election. This decision follows the party's recent revocation of Chandra Arya's nomination, who has represented the riding since 2015. Carney's move to run in Nepean places him in close proximity to Conservative Leader Pierre Poilievre, who is seeking re-election in the neighboring riding of Carleton. The election is set to take place on April 28, marking a pivotal moment in Canadian politics. 

Carney's candidacy is expected to bring significant attention to the Nepean riding, as he aims to secure a seat in the House of Commons while leading the Liberal Party's campaign.

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