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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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China Escalates Trade Dispute with Canada Over Steel Import Restrictions

 

China has formally lodged a complaint with the World Trade Organization (WTO) against Canada’s import restrictions on steel and other products, intensifying already strained trade relations between the two nations.

According to China’s Ministry of Commerce, the measures — which include additional tariffs on steel containing Chinese-origin metal — are “discriminatory” and in violation of WTO rules. Beijing urged Ottawa to reverse the policies immediately, warning that such actions undermine global supply chain stability.

The dispute follows Canada’s recent decision to impose a 25% tariff on certain steel imports, a move it says is necessary to protect domestic producers from market distortions caused by diverted exports. China’s complaint comes amid a series of tit-for-tat trade measures, including Beijing’s new duties on Canadian canola and other goods.

Trade experts note that the case will test the WTO’s ability to mediate in an era of rising protectionism, with both sides signaling they are prepared for a protracted legal battle.

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