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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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Russia Open to Ukraine Peace Talks if Trump Initiates Them, Envoy Says

In a recent statement, Russia has expressed its openness to engage in peace talks to end the ongoing conflict in Ukraine, provided that the initiative comes from U.S. President-elect Donald Trump. Gennady Gatilov, Russia's ambassador to the United Nations in Geneva, emphasized that any negotiations would need to be grounded in the current realities of Russian advances.

Trump has been vocal about his criticism of the extensive Western aid provided to Kyiv and has promised to swiftly end the conflict, although he has not detailed his approach. His victory in the November 5 presidential election has raised concerns in Kyiv and other European capitals about the future level of U.S. support for Ukraine.

Gatilov acknowledged that while Russia welcomes the prospect of Trump initiating the political process, he remains realistic about the challenges ahead. He noted that any peace talks must reflect the situation on the ground, where Russian forces have made significant advances.

Ukrainian President Volodymyr Zelenskiy has consistently maintained that peace can only be achieved once all Russian forces are expelled and all territories, including Crimea, are returned to Ukraine. He has warned that any concessions to Russia would be unacceptable for Ukraine and detrimental to European security.

As the world watches closely, the potential for new dialogue between Russia and the United States under Trump's leadership presents a complex and uncertain path forward for the conflict in Ukraine.

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