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Bank of Canada Rate Decision Countdown: What to Expect on July 15

  Published July 4, 2026 In eleven days, the Bank of Canada will make its fifth interest rate call of 2026. If you've got a mortgage renewing, a variable rate that moves with the Bank's decisions, or savings sitting in a high-interest account, this is the date to have circled. Here's where things stand heading into July 15, and what the smart money is expecting. Where the rate sits right now The Bank of Canada has held its policy rate at 2.25% since its last two decisions, with the Bank Rate at 2.50% and the deposit rate at 2.20%. The July 15 announcement, released at 9:45 a.m. ET, will also come with a full Monetary Policy Report, since the Bank publishes its detailed economic projections quarterly alongside the January, April, July, and October decisions. Why most economists expect another hold The case for standing pat comes down to two forces pulling in opposite directions: Inflation is running hot, but mostly for one reason. Canada's headline inflation rate jumped...
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Pressure Mounts on Canadian Prime Minister Trudeau Amid By-Election Defeat

 

Canadian Prime Minister Justin Trudeau is currently facing renewed pressure to step down as the leader of the Liberal Party. 

The recent by-election defeat in the Toronto-St. Paul’s riding has sparked calls for his resignation. Former Liberal minister Catherine McKenna has publicly stated that it’s time for the party to find a new leader, emphasizing the need for fresh ideas and energy. Despite this, Trudeau’s current ministers continue to stand by him, even as voters express discontent over housing and inflation.

Additionally, Liberal backbencher Wayne Long has sent an email to caucus calling for Trudeau’s resignation after the party’s loss in a traditionally Liberal riding. The situation remains tense, and Trudeau’s political future hangs in the balance. 

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