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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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Inferno at the Doorstep: St. John’s Braces as Wildfires Close In

 

A water bomber drops water onto a wildfire burning in the Paddy's Pond area just outside St. John's on Wednesday.


A fast-moving wildfire south of Newfoundland and Labrador’s capital has triggered evacuation alerts for thousands, as officials warn the situation could escalate with little notice. The Paddy’s Pond blaze, now estimated at roughly 300 hectares, has prompted a regional state of emergency for parts of St. John’s, Paradise, and Conception Bay South.

Residents in Southlands, Galway, and sections of Paradise remain on high alert, with some areas already under mandatory evacuation orders. The fire is burning dangerously close to the Trans-Canada Highway, just 15 kilometres from downtown St. John’s, forcing road closures and disrupting local services.

Six water bombers, supported by helicopters and ground crews, are battling the flames amid extreme fire conditions. Officials say aerial suppression has slowed the fire’s growth, but it remains out of control. The province has also imposed a temporary ban on off-road vehicles in forested areas to reduce the risk of new ignitions.

Premier John Hogan urged residents to stay prepared, keep emergency bags packed, and follow official updates closely. “We could be called to evacuate at a moment’s notice,” he cautioned, as smoke and uncertainty continue to hang over the region.


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