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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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Araqchi Warns West: Diplomacy, Not Pressure, Key to Resolving Nuclear Dispute

                                            Iran's Foreign Minister Abbas Araqchi

At the United Nations, Iranian Foreign Minister Abbas Araqchi declared that Tehran will not yield to threats or coercion regarding its nuclear program, stressing that diplomacy remains the only viable path forward. His remarks come as Britain, France, and Germany (the E3) move to reimpose U.N. sanctions, accusing Iran of breaching the 2015 nuclear deal.

Araqchi emphasized that Iran has been “tested repeatedly” and will not respond to the “language of pressure and threat.” He is scheduled to meet European counterparts and U.N. nuclear watchdog chief Rafael Grossi in New York this week to discuss possible solutions.

The E3 have offered to delay sanctions for six months if Iran restores access for inspectors, addresses concerns over enriched uranium, and resumes talks with the United States. However, if no agreement is reached by September 27, sanctions are set to automatically return, further straining Iran’s already fragile economy.

Despite mounting international pressure, Araqchi insisted that Tehran will take “appropriate measures” if diplomacy fails, underscoring the high stakes in the coming days as both sides weigh cooperation against confrontation.


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