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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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International Firefighting Effort Mobilized to Combat Devastating Limassol Wildfire

 

In a powerful show of international solidarity, Egypt, Greece, the European Union, and the United Kingdom have dispatched firefighting aircraft and personnel to Cyprus to help battle a massive wildfire that continues to ravage the Limassol district.

The fire, which broke out near the Ayios Sylas industrial area, has prompted urgent evacuations and widespread damage. Strong winds have fueled flare-ups, making containment efforts increasingly difficult.

  • Egypt sent two specialized firefighting helicopters, with additional support and aid pledged by President Abdel Fattah al-Sisi. The aircraft arrived at Paphos’ Andreas Papandreou airbase and are awaiting deployment.
  • Greece deployed 26 forest firefighters and two Canadair aircraft to assist in aerial suppression efforts.
  • The EU, through its Civil Protection Mechanism, mobilized two Canadair planes from its rescEU fleet stationed in Spain.
  • The UK, via its sovereign bases in Cyprus, is actively supporting local firefighting operations and remains on standby for further assistance.

Cypriot officials expressed deep gratitude for the swift international response. Energy Minister George Papanastasiou praised Egypt’s immediate action, while Foreign Minister Constantinos Kombos coordinated closely with counterparts across the region.

As the fire continues to threaten communities and natural landscapes, the coordinated multinational effort underscores the importance of regional cooperation in times of environmental crisis.

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