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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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ICJ Orders Israel to Facilitate Gaza Aid, But Israel Rejects Ruling

The ICJ opinion found Palestinians in Gaza were inadequately supplied and stressed Israel cannot use starvation as a weapon of war.

The International Court of Justice (ICJ) has issued an advisory opinion declaring that Israel is legally obliged to support United Nations relief operations in Gaza, including those carried out by the UN Relief and Works Agency for Palestine Refugees (UNRWA). The court emphasized that Israel, as the occupying power, must ensure the “basic needs” of Gaza’s population are met, including access to food, water, medicine, and shelter.

ICJ President Yuji Iwasawa stated that Israel had failed to substantiate its claims that UNRWA was infiltrated by Hamas or other militant groups. The court dismissed allegations that the agency had violated neutrality, stressing that no evidence supported such accusations.

Israel, however, has openly rejected the ruling. Senior officials said UNRWA would “never set foot in Gaza again,” arguing that UN agencies had failed in the past or fallen under Hamas influence. The government vowed to continue blocking the agency’s return, despite mounting international pressure.

The ruling, while advisory and not legally binding, carries significant political weight. UN Secretary-General António Guterres welcomed the decision, urging Israel to comply and allow humanitarian agencies to operate freely in Gaza.

The standoff highlights the deepening rift between Israel and international institutions, as aid groups warn that continued restrictions could worsen the humanitarian crisis in the enclave.


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