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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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UK Eyes Economic Accord as a Path to Tariff Relief

The United Kingdom remains optimistic about the prospects of securing the reversal of US-imposed tariffs through an upcoming economic agreement. Officials from Britain view this potential accord as a critical opportunity to strengthen bilateral trade ties and reduce trade barriers that have strained the economic relationship between the two nations.

Negotiations have gained momentum as both parties seek to address key trade issues, including tariffs on steel, aluminum, and other goods. The UK's leadership has expressed hope that removing these tariffs will not only benefit exporters but also foster economic growth on both sides of the Atlantic.

As discussions advance, analysts are closely observing the diplomatic dynamics that will shape the outcome of the agreement. The deal, if finalized, could mark a turning point in the UK-US economic partnership, paving the way for deeper collaboration and mutual prosperity.


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