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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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Tehran Rocked by Renewed Israeli Strikes as Iran’s Leadership Council Assumes Control

 

A woman reacts as she holds a placard with an image of Iranian late Supreme Leader Ayatollah Ali Khamenei, at a rally in solidarity with Iran after U.S. and Israeli strikes killed Ali Khamenei, in Beirut, Lebanon.


Israel has launched another wave of airstrikes on Tehran, intensifying a rapidly escalating regional crisis just one day after the assassination of Iran’s Supreme Leader, Ali Khamenei. According to multiple reports, Israeli officials said the renewed strikes were intended to maintain air dominance as Iran faces its most significant leadership vacuum in decades. 

The power void left by Khamenei’s killing has prompted Iran to activate a leadership council to stabilize governance. Inside the country, reactions have been sharply divided—some mourning the long‑time leader, others openly celebrating his death, revealing deep internal fractures. 

The military confrontation has widened beyond Iran’s borders. Iran has retaliated with missile barrages targeting Israel and sites across the Gulf, while U.S. forces have also been involved in coordinated strikes. The exchange has sent shockwaves through global markets, disrupting shipping routes, air travel, and oil supply chains, with warnings of rising energy costs and broader economic instability. 

As tensions continue to rise, the region remains on high alert, with governments and businesses bracing for further escalation and uncertainty.


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