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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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Escalation in South Asia: India Strikes Pakistan Over Kashmir Attack, Islamabad Vows Retaliation

In a dramatic escalation of tensions between two nuclear-armed neighbors, India launched missile strikes on Pakistan early Wednesday, targeting what it described as terrorist infrastructure in response to a deadly attack on Hindu tourists in Indian-administered Kashmir last month. The attack, which claimed 26 lives, has been blamed on Pakistan-based militant groups, though Islamabad denies involvement.

Pakistan has condemned the strikes as a “blatant act of war”, reporting that at least 26 people were killed and 46 injured in the Indian assault. Pakistani officials claim that civilian sites, including mosques, were among the targets, contradicting India's assertion that it exercised “considerable restraint” in selecting its targets. 

The situation has sparked international concern, with UN Secretary-General António Guterres urging both nations to exercise military restraint. Meanwhile, Pakistan has vowed to retaliate, stating that it reserves the right to respond at a time and place of its choosing. 

With both sides exchanging heavy artillery fire across the contested Kashmir region, fears of a broader conflict loom large. The world watches anxiously as diplomatic efforts attempt to de-escalate the crisis. 


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