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The Rate Cuts Are Over — Is a Hike Coming?

  July 23, 2026 Oil shocks, sticky inflation and a technical recession are pulling the Bank of Canada in opposite directions at once. For most of the past two years, the only question about the Bank of Canada was how far and how fast it would cut. The overnight rate fell from 5.00% to 2.25% between June 2024 and October 2025, one of the sharpest easing cycles in the Bank's history, and it has held there through six consecutive decisions since. That story is now over. The question on the table for the rest of 2026 isn't whether the Bank cuts again — it's whether the next move is actually a hike. Two conflicting signals, one Bank The case for staying put — or even cutting — comes from the growth side of the ledger. Statistics Canada data showed the economy contracted in both the fourth quarter of 2025 and the first quarter of 2026, meeting the informal definition of a technical recession. That was enough to have some economists warning the Bank had no room to raise rates at a...
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Vatican Prepares for Historic Conclave with Chimney Installation

 

 As the world awaits the election of a new pope, Vatican workers have installed the iconic chimney atop the Sistine Chapel, a crucial step in the preparations for the upcoming conclave. This chimney will serve as the conduit for the traditional smoke signals that inform the world of the voting progress.

The conclave, set to begin on May 7, will see 133 cardinal electors gather in secrecy to cast their votes for the next leader of the Catholic Church. The ballots will be burned in a special stove, producing either black smoke to indicate no decision or white smoke to announce the election of a new pope. Thousands are expected to gather in St. Peter’s Square, eagerly watching the chimney for the historic signal.

This centuries-old tradition remains one of the most anticipated moments in Vatican history, symbolizing the transition of leadership within the Church. As the cardinals prepare for their solemn duty, the world watches with anticipation, awaiting the moment when white smoke rises, signaling the arrival of a new pontiff.

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