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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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Cardinals Enter Seclusion for Papal Conclave Amid Historic Anticipation

In a solemn and time-honored tradition, cardinals from around the world have entered seclusion ahead of the highly anticipated conclave to elect the next pope. Taking place within the Vatican's historic Sistine Chapel, the gathering marks a pivotal moment for the Roman Catholic Church as it seeks new leadership following the resignation of Pope Francis.

The secretive nature of the conclave is designed to ensure a prayerful and undistracted environment, allowing cardinals to carefully deliberate on the future of the Church. All forms of external communication are strictly prohibited, reinforcing the gravity and sanctity of the process.

As speculation swirls regarding possible successors, Catholics and observers around the globe await the famous white smoke that will signal the election of a new pontiff. Until then, the world watches as history unfolds within the sacred walls of the Vatican.



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