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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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CRA Turns to AI and Enhanced Training to Fix Call Centre Failures



In response to mounting criticism over poor service quality, the Canada Revenue Agency (CRA) is embracing artificial intelligence and standardized training to improve the accuracy of answers provided by its call centre staff.

A recent audit revealed that CRA agents correctly answered only 17% of individual tax questions during a key period in 2025. The findings sparked concern among both taxpayers and lawmakers, prompting the agency to take swift action.

Melanie Serjak, Assistant Commissioner at the CRA, told a parliamentary committee that the agency is rolling out a more senior and standardized training program for its call centre agents. In addition, the CRA is expanding its use of automation and AI tools to support staff in delivering more reliable information.

One of the AI tools already in use is “Charlie,” a rule-based chatbot that provides scripted answers to frequently asked questions. While Charlie was found to be accurate only about one-third of the time, the CRA is now piloting a generative AI version that could offer more dynamic and context-aware responses.

The CRA’s renewed focus on technology and training comes as part of a broader 100-day plan mandated by the federal government to address call centre delays and service gaps. The agency is also hiring more staff and extending the hours of its online chat services to meet growing demand.

While experts caution that AI should not replace human judgment, especially when current staff struggle with basic accuracy, the CRA sees these initiatives as essential steps toward restoring public trust and improving taxpayer support.


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