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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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Humanitarian Aid on Trial in Greece

 

File photo: Migrants from Afghanistan is towed by rescuers of the Refugee Rescue NGO, on the island of Lesbos, Greece.


Twenty-four humanitarian aid workers have gone on trial in Greece, facing felony charges of migrant smuggling, money laundering, and membership in a criminal organization. The case, unfolding on the island of Lesbos, targets former volunteers of the now-defunct NGO Emergency Response Centre International (ERCI), which operated search-and-rescue missions between 2016 and 2018.

Among the defendants are Sarah Mardini, a Syrian refugee and professional swimmer whose story inspired the Netflix film The Swimmers, and Seán Binder, a German-Irish rescue diver. Both were arrested in 2018 for their involvement in helping migrants and refugees arriving by sea from Turkey. If convicted, the defendants face up to 20 years in prison.

Greek prosecutors allege that the group facilitated illegal entry into the country by monitoring coastguard communications and relaying information to smugglers. Rights organizations, however, have condemned the charges as baseless and politically motivated, describing the trial as one of Europe’s largest attempts to criminalize humanitarian solidarity.

The trial comes amid a broader tightening of migration policies across Europe, with governments under pressure from rising right-wing parties. Greece, which saw more than one million migrants arrive during the 2015–2016 refugee crisis, has been accused of illegal pushbacks and harsh border enforcement in recent years.

This case has drawn international attention, with critics warning that prosecuting aid workers sets a dangerous precedent for humanitarian efforts worldwide. The outcome will not only determine the fate of the defendants but could also shape the future of refugee assistance in Europe.

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