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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...
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US Blocks Abbas from UN Amid Rising Global Recognition of Palestinian Statehood

 

The United States has announced it will deny and revoke visas for several senior members of the Palestinian Authority (PA) and the Palestine Liberation Organization (PLO) ahead of next month’s United Nations General Assembly in New York. The move is expected to prevent Palestinian Authority President Mahmoud Abbas from delivering his customary address at the annual gathering.

The State Department cited the PA and PLO’s alleged failure to repudiate terrorism and their pursuit of unilateral recognition of Palestinian statehood as reasons for the restrictions. However, the Palestinian mission to the UN — staffed by diplomats permanently based in New York — will be exempt from the ban, in line with the UN headquarters agreement.

The decision comes as several key US allies, including the United Kingdom, France, Australia, and Canada, have pledged to formally recognize a Palestinian state during the summit. These recognition moves reflect growing frustration with Israel’s ongoing war in Gaza, the humanitarian crisis it has triggered, and continued settlement expansion in the West Bank.

Abbas’ office condemned the US action, calling it a violation of international agreements governing access to the UN, and vowed to respond diplomatically. The restrictions could significantly reduce the Palestinian presence at a high-profile moment in the global debate over statehood and peace in the Middle East.


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