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Bank of Canada Rate Decision Countdown: What to Expect on July 15

  Published July 4, 2026 In eleven days, the Bank of Canada will make its fifth interest rate call of 2026. If you've got a mortgage renewing, a variable rate that moves with the Bank's decisions, or savings sitting in a high-interest account, this is the date to have circled. Here's where things stand heading into July 15, and what the smart money is expecting. Where the rate sits right now The Bank of Canada has held its policy rate at 2.25% since its last two decisions, with the Bank Rate at 2.50% and the deposit rate at 2.20%. The July 15 announcement, released at 9:45 a.m. ET, will also come with a full Monetary Policy Report, since the Bank publishes its detailed economic projections quarterly alongside the January, April, July, and October decisions. Why most economists expect another hold The case for standing pat comes down to two forces pulling in opposite directions: Inflation is running hot, but mostly for one reason. Canada's headline inflation rate jumped...
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Ford Pushes for Highway 401 Tunnel in Letter to Carney

 

Ontario Premier Doug Ford has formally requested federal support for a proposed tunnel under Highway 401, a project he describes as nation-building and essential for economic growth. In a letter sent to Prime Minister Mark Carney, Ford outlined several priority projects, including critical mineral access, electric vehicle supply chain development, and bail reforms. However, the most ambitious proposal is the tunnel, which Ford argues would significantly reduce congestion on North America's busiest highway.

The Ford government is currently seeking proposals for a feasibility study to explore various options, including an elevated highway and truck-only lanes. Despite skepticism from opposition leaders, Ford remains committed to the tunnel project, emphasizing its long-term benefits for Ontario's infrastructure and economy.

Critics, including NDP Leader Marit Stiles and Liberal Leader Bonnie Crombie, have dismissed the tunnel as unrealistic and financially burdensome. Stiles called it a "fantasy tunnel," while Crombie warned that its cost could bankrupt the province. Nevertheless, Ford has pledged to move forward with the project, regardless of feasibility study outcomes.

The federal government's response to Ford's request remains uncertain, but the proposal has already sparked significant debate about Ontario's infrastructure priorities and the future of transportation in the province.

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