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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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Survivors Challenge Greek Coastguard Over Deadly Shipwreck

Protesters hold a banner against EU and Greek government policies towards migrants during a protest, following a deadly collision between a migrant boat and a coast guard vessel off the island of Chios, in Athens, Greece, February 5, 2026. 

Survivors of a fatal shipwreck near the Greek island of Chios are disputing the Greek coastguard’s official account of the incident that left 15 Afghan migrants dead. Authorities claim the migrants’ dinghy was traveling without lights, ignored repeated warnings, and suddenly veered into a patrol vessel, causing the collision.

Multiple survivors, however, insist that no warnings were issued and that the dinghy never changed course. They say the coastguard vessel only revealed itself moments before impact, leaving them no time to react. Their testimonies have intensified calls from human rights groups for an independent investigation into the circumstances surrounding the tragedy.

The incident has renewed scrutiny of Greece’s border enforcement practices and raised broader concerns about the treatment of migrants attempting the dangerous crossing into Europe.

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