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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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Russia Injects $9 Billion Into Turkey’s Akkuyu Nuclear Project

Russian President Vladimir Putin and Turkish President Tayyip Erdogan attend a meeting in Ashgabat, Turkmenistan.

Turkey has announced that Russia has provided $9 billion in new financing for the Akkuyu nuclear power plant, the country’s first nuclear facility and one of its largest-ever energy investments. The funds were delivered through Rosatom, Russia’s state nuclear corporation, which is constructing the plant under a long‑standing bilateral agreement.

Turkish Energy Minister Alparslan Bayraktar said the new financing will support project expenditures through 2026–2027, with several billion dollars expected to be deployed next year as construction accelerates. The plant, located in the Mediterranean province of Mersin, is now targeting 2026 for the launch of its first reactor.

The Akkuyu project is central to Turkey’s strategy to diversify its energy mix and reduce reliance on imported fuels. Ankara is also in discussions with South Korea, China, Russia, and the United States regarding additional nuclear projects planned for Sinop and the Thrace region, signaling a broader push to expand the country’s nuclear footprint.


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