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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...

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Tragedy Strikes at Turkish Ski Resort: 66 Dead, 51 Injured in Hotel Fire

A devastating fire engulfed the Grand Kartal Hotel at the popular Kartalkaya ski resort in northwestern Turkey early Tuesday morning, claiming at least 66 lives and injuring 51 others. The fire, which broke out around 3:30 a.m. local time in the hotel's restaurant section, spread rapidly, trapping guests on the upper floors.

Guests, many of whom were families on holiday during the school semester break, faced harrowing conditions as they tried to escape the flames. Some resorted to jumping from windows in a desperate attempt to flee the blaze, while others used sheets and blankets to climb down from their rooms. The hotel's fire detection system reportedly failed to operate, adding to the chaos and confusion.

Emergency services, including 30 fire trucks and 28 ambulances, were dispatched to the scene, but the fire's intensity and the hotel's chalet-style wooden exterior hampered firefighting efforts. The Turkish government has launched an investigation into the incident, with six prosecutors appointed to determine the cause of the fire and hold those responsible accountable.

President Recep Tayyip Erdogan expressed deep sorrow over the tragedy, offering condolences to the families of the victims and promising a thorough investigation. Health Minister Kemal Memisoglu reported that one of the injured is in serious condition, while 17 others have been treated and discharged.

The resort, located in the Koroglu mountains about 300 kilometers (185 miles) east of Istanbul, is a popular winter destination, especially during school holidays. The fire has left the community in mourning, with many still searching for loved ones who were staying at the hotel.

As the investigation continues, the focus remains on providing support to the victims and their families, and ensuring that such a tragedy never happens again.




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