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5 Things to Know Today: BoC Holds at 2.25%, Oil Spikes, CCB Boost

  Wednesday, July 15, 2026 Good morning. The Bank of Canada made its call this morning, oil is on the move again because of the Middle East, and a bigger government deposit is about to hit millions of accounts. Here's what actually matters for your wallet today. 1. The Bank of Canada held its key rate at 2.25% As widely expected, the Bank of Canada left its overnight rate unchanged at 2.25% this morning, alongside a fresh Monetary Policy Report. It's the sixth straight hold since the easing cycle paused last fall. The Bank says it's looking through the near-term inflation bump caused by higher oil prices from the conflict in the Middle East, but has made clear it won't let that become a persistent trend. What it means for you: Prime rate stays at 4.45%. If you're on a variable-rate mortgage or HELOC, your payment doesn't change this month. Fixed-rate shoppers should watch bond yields, not the BoC rate, for the next move in posted rates. 2. Oil prices are spik...
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Foreign Interference in Canadian Democracy: Unmasking Parliamentarians’ Involvement

 

The National Security and Intelligence Committee of Parliamentarians (NSICOP) has recently revealed a startling finding: an unknown number of federal politicians in Canada are knowingly working with hostile countries to interfere in our democracy. This report sheds light on the involvement of sitting parliamentarians in foreign interference operations, including divulging secrets to foreign governments. Here are the key points from the report:

  1. Witting or Semi-Witting Participation: The committee reviewed top-secret intelligence reports that suggested some parliamentarians are “witting or semi-witting” participants in foreign interference activities. These actions include collaborating with foreign governments to further their own interests within Canada.

  2. Ethical Concerns: While some of these activities may be illegal, they are unlikely to lead to criminal charges due to Canada’s failure to adequately protect classified information and methods in judicial processes. Regardless, the behaviors are deeply unethical and contrary to the oaths and affirmations that parliamentarians take to conduct themselves in the best interests of Canada.

  3. Gaps in Information Sharing: The report highlights serious gaps in the way Canadian Security Intelligence Service (CSIS), the Royal Canadian Mounted Police (RCMP), and other federal security agencies share intelligence about foreign interference. These gaps occurred between 2018 and 2023, and it appears that CSIS and the information gatekeepers at Prime Minister Justin Trudeau’s office did not see eye to eye.

  4. Urgency and Legislative Reforms: Prior to leaks about foreign interference activities, there was little urgency among elected officials and senior decision-makers to address this well-documented threat to national security. However, the leaks prompted the government to start considering key legislative reforms and take meaningful actions against particular states.

  5. China, India, and Iran: The report specifically mentions foreign meddling by countries like China, India, and Iran. These nations have been involved in activities that cross the line from legitimate lobbying and diplomacy into foreign interference.

In summary, this report underscores the need for vigilance in safeguarding our democratic institutions and addressing foreign interference. While the leaks were regrettable, they did prompt the government to take this issue more seriously. It’s essential that we continue to monitor and address these challenges to protect Canada’s sovereignty and democratic processes.


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