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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...
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Trade War Escalates: China Strikes Back at U.S. Tariffs

China has retaliated against U.S. President Donald Trump's decision to increase tariffs on Chinese goods to 145%, raising its own tariffs on American imports to 125%. This tit-for-tat escalation has intensified the trade war between the world's two largest economies, sending shockwaves through global markets.

The turmoil has left foreign leaders grappling with the disruption to international trade and supply chains. Stocks have plummeted, the dollar has weakened, and U.S. government bonds have faced a sell-off. Gold, often seen as a safe haven during economic uncertainty, has reached record highs.

While Trump expressed hope for a deal with China, the uncertainty has fueled fears of a global recession. China's Finance Ministry has condemned the U.S. tariffs as "unilateral bullying and coercion," signaling that Beijing is prepared to fight to the end.

The escalating trade conflict underscores the fragility of the global economy and the challenges of navigating such high-stakes negotiations. What do you think about this unfolding drama?

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