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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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Your lookahead horoscope: February 8, 2026

 

IF TODAY IS YOUR BIRTHDAY

A Venus-Uranus link on your birthday suggests you will be attracted to people and causes that are out of the ordinary over the next 12 months. That’s fine, but take care you don’t get swept away by passions you may not be able to control.

ARIES (March 21 - April 20):

It’s never nice being told you are wrong but on this occasion the person doing the telling is doing you a favour. If you carry on along your current path you will inevitably hit a wall, so listen to what they have to say. It’s good advice.

TAURUS (April 21 - May 21):

You seem to be wasting a lot of time and energy on minor matters that can probably be safely ignored and that is something you will need to deal with over the next few days. There are far more important things that need looking at.

GEMINI (May 22 - June 21):

Do what you want to do this week rather than what other people expect you to do. You have gone out of your way of late to make life easier for family and friends and now you have every right and reason to do something for yourself.

CANCER (June 22 - July 23):

Some people take great delight in criticizing and they are the people you must ignore over the next seven days. If they don’t have anything positive to say then tune them out and focus on what matters to you. You don’t need their validation.

LEO (July 24 - Aug. 23):

By all means take other people’s opinions into account over the coming week but don’t hold back from doing what you are planning just because they have their doubts. Your own self-belief will be enough to carry you past any potential obstacles.

VIRGO (Aug. 24 - Sept. 23):

If you get a lucky break this week don’t listen to those who say you did nothing to earn it. On the contrary, the good fortune you are about to experience is linked directly to the efforts you made toward the end of last year.

LIBRA (Sept. 24 - Oct. 23):

If you don’t feel 100 per cent sure about a joint project of some sort then take a time out and let your partners know that a rethink may be needed. Your ability to see obstacles as well as opportunities could save you all a lot of hurt.

SCORPIO (Oct. 24 - Nov. 22):

You may be reluctant to let go of something that has outlived its usefulness but let go you must. As a Water sign you have a tendency to hold on to the past when you should be looking to the future. It’s time to move on.

SAGITTARIUS (Nov. 23 - Dec. 21):

If you get the chance to move up in the world over the next few days you must seize it without a moment’s hesitation. The planets warn you are not the only one in the running for a promotion, so you will need to be quick.

CAPRICORN (Dec. 22 - Jan. 20):

Don’t make a big deal of it if a friend or loved one pulls out of a social event at the last moment this week. You can still go along without them and because they are not there you might even be less inhibited than usual.

AQUARIUS (Jan. 21 - Feb. 19):

With the sun, Mars and Pluto all moving through your sign you are in the mood to take on the world and win. Just remember though that you don’t HAVE to make a fight out of every situation. A lot of people are on your side.

PISCES (Feb. 20 - Mar. 20):

What at first looks like a mutually beneficial agreement could turn out to be something much less appealing later on, so be on your guard and be ready to back out if the vibes don’t feel right. Your main obligation must be to yourself.

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