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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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Hamas Releases Video of Two Israeli Captives Held in Gaza

 

Hamas, the militant group in Gaza, has published a video showing the first proof of life of two hostages being held: Keith Siegel, a 64-year-old American-Israeli citizen, and Omri Miran. In the undated footage, Mr. Miran states that he has been held captive for 202 days, while Mr. Siegel mentions the Passover holiday, suggesting the clips were filmed recently.

Mr. Siegel was kidnapped along with his wife Aviva on October 7. Aviva was freed in November during a brief truce, but at that time, she did not know if Keith was still alive. The Hostages Families Forum Headquarters confirmed that the Siegel and Miran families are aware of the latest video. This proof of life is the clearest evidence that the Israeli government must do everything to approve a deal for the return of all the hostages.

The video comes after another proof-of-life video released earlier in the week, showing Israeli-American hostage Hersh Goldberg-Polin, who lost his lower left arm during Hamas’s attack on southern Israel in October.

In the video, both Mr. Siegel and Mr. Miran urge the Israeli government to agree to a deal with Hamas for a ceasefire and the release of hostages. However, weeks of indirect negotiations have failed to produce an agreement. Hamas has previously insisted that any deal should include a permanent end to the war, full Israeli military withdrawal from Gaza, and unrestricted return of displaced people to their homes. Meanwhile, Israel maintains its stance that it must destroy Hamas in Gaza and free the hostages.

Despite warnings of potential humanitarian consequences, Israel appears to be moving ahead with plans for an offensive in Rafah, southern Gaza, where 1.5 million displaced Palestinians are sheltering.



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