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The Rate Cuts Are Over — Is a Hike Coming?

  July 23, 2026 Oil shocks, sticky inflation and a technical recession are pulling the Bank of Canada in opposite directions at once. For most of the past two years, the only question about the Bank of Canada was how far and how fast it would cut. The overnight rate fell from 5.00% to 2.25% between June 2024 and October 2025, one of the sharpest easing cycles in the Bank's history, and it has held there through six consecutive decisions since. That story is now over. The question on the table for the rest of 2026 isn't whether the Bank cuts again — it's whether the next move is actually a hike. Two conflicting signals, one Bank The case for staying put — or even cutting — comes from the growth side of the ledger. Statistics Canada data showed the economy contracted in both the fourth quarter of 2025 and the first quarter of 2026, meeting the informal definition of a technical recession. That was enough to have some economists warning the Bank had no room to raise rates at a...
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Israel Agrees to Gaza Ceasefire Framework: Now Awaiting Hamas’ Decision

 


In a significant development, Israel has essentially endorsed a framework for a proposed Gaza ceasefire and hostage release deal. The ball is now in Hamas’ court as they must decide whether to agree to it. A senior U.S. administration official revealed this information on Saturday, just a day before talks are scheduled to resume in Egypt.

The proposed framework includes a six-week ceasefire, which could provide much-needed relief to the conflict-weary region. Additionally, Hamas would be required to release hostages considered vulnerable, including the sick, wounded, elderly, and women. The Israelis have “more or less accepted” this proposal, according to the official. However, the final decision rests with Hamas, and efforts are ongoing to encourage their cooperation.

International mediators have been working tirelessly to broker this deal before the start of the Muslim holy month of Ramadan (around March 10). If successful, the agreement would allow aid to reach hundreds of thousands of desperate Palestinians in northern Gaza. These individuals are currently under the threat of famine due to the ongoing conflict.

In response to the dire situation, U.S. military planes have initiated airdrops of thousands of meals into Gaza. Jordan and Egypt have also conducted similar airdrops. However, aid groups emphasize that airdrops should be a last resort. Instead, they advocate for the opening of other crossings into Gaza and the removal of obstacles at the few existing ones.

The European Union’s diplomatic service has expressed concern over the chaos surrounding an aid convoy in Gaza. Many of the hundreds of Palestinians killed or wounded during the incident were hit by Israeli army fire. The EU calls for an international investigation, attributing the crisis to "restrictions imposed by the Israeli army and obstructions by violent extremists to the supply of humanitarian aid".

As the talks continue, the world watches with bated breath, hoping for a breakthrough that will alleviate the suffering of those caught in the crossfire.


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