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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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Defiance in Istanbul: Opposition Barricades Against Police Takeover

 

Supporters of the main opposition Republican People’s Party (CHP), clash with riot police outside the CHP Istanbul provincial office.


In a dramatic standoff in Istanbul, lawmakers from Turkey’s main opposition Republican People’s Party (CHP) piled tables and chairs at the entrance of their provincial headquarters to block police from enforcing a court order to replace the party’s local leader. The ruling removed Istanbul provincial head Ozgur Celik over alleged irregularities, appointing former deputy chair Gursel Tekin in his place — a move the CHP rejected as “null and void,” insisting Tekin had been expelled from the party.

The tense scene unfolded as hundreds of riot police surrounded the building, detaining protesters and using pepper spray to disperse crowds. Inside, more than 50 CHP lawmakers stood behind the barricades, accusing authorities of attempting to “dismantle democracy.” The confrontation is the latest in a year-long crackdown on the CHP, which has seen high-profile arrests, including that of Istanbul Mayor Ekrem Imamoglu in March, sparking the largest protests in a decade.

Authorities maintain the judiciary is acting independently, while the CHP claims the legal actions are politically motivated efforts to weaken the opposition ahead of future elections. Social media access was restricted nationwide during the unrest, and Istanbul’s stock index fell sharply amid rising political tensions.


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