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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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Ottawa Offers Early Retirement to Thousands in Effort to Downsize Public Service

 

People walk near the Place du Portage federal government complex in Gatineau, Que., in mid-November.


The federal government has begun notifying approximately 68,000 public servants that they may qualify for a new early-retirement incentive program, part of a broader plan to reduce the size of Canada’s public service. The initiative, announced under the 2025 budget, aims to cut about 40,000 positions from a peak of 368,000 jobs recorded in 2023–24.

Officials say the program is voluntary and designed to encourage natural attrition rather than impose layoffs, particularly on younger employees. Eligible workers will be able to retire earlier than usual without facing pension penalties, a move intended to make the offer more attractive. Departments will review applications to ensure that essential services remain intact.

The government has already reduced the workforce by roughly 10,000 positions over the past year through attrition and other staffing changes. By offering incentives now, Ottawa hopes to accelerate departures while avoiding disruptive cuts. Treasury Board officials emphasized that receiving a letter does not guarantee acceptance into the program, as applications will be vetted carefully.

This early-retirement initiative reflects the government’s broader effort to rein in spending and streamline operations. While unions and employees are still reviewing the details, the plan signals a significant shift in how Ottawa intends to manage its workforce in the coming years.

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