JULY 16, 2026
Hitting Pause
The Bank of Canada announced Tuesday that it will be holding interest rates at 2.25 percent, a level they’ve been lingering at since Oct. 2025. In his opening remarks to reporters, Bank governor Tiff Macklem said the decision to pause rates again will “sustain the economic recovery and bring inflation back to the two-percent target.” While acknowledging that recent data shows “the economy is indeed working its way through this period of global upheaval,” he warned it could all be undone by two factors: the conflict in the Middle East and our trade relationship with the U.S. Lower rates are, of course, beneficial to those paying down mortgages. But they hurt retirees with interest-dependent portfolios such as GICs and money market investments. Plus, we could see our dollar’s value decline, which will affect those who own properties or travel to the U.S. Still, Macklem sounded a largely optimistic tone: economic growth is slow but steady, inflation is under control and Canadian businesses are adapting to the uncertain trade climate – “They’re finding ways to work with their clients. They’re reconfiguring their supply chains. They’re getting on with business.”
JULY 14, 2026
Hot Enough For You?
A blast of extreme heat is gripping central Canada, with sweltering temperatures and stifling humidity pushing conditions into dangerous territory – especially for older adults. Ontario communities, including Toronto, London and Windsor, are facing humidex values of 46, while parts of western Quebec, including Gatineau and Rouyn, could see temperatures of 37 C – with the humidex reaching a sizzling 45 C. Even cities in Northwest Territories, Fort Simpson and Hay River, are issuing heat warnings. Armstrong, Ont., northwest of Lake Nipigon, was the hottest city in Canada, with the mercury climbing to 40.7 C on Monday, still well below the all-time record of 47.9 C, set in Lytton, B.C., in 2021. Rising global temperatures mean that we’re facing more and more extreme thresholds. Health experts say two factors largely determine our vulnerability to heat: age and sun exposure. As we get older, our bodies become less efficient at regulating temperature, while prolonged sun exposure can cause body temperature to rise. High humidity compounds the danger by preventing sweat from evaporating, trapping heat and increasing the risk of heat exhaustion or heat stroke. Stay hydrated, avoid direct sun and seek air-conditioned spaces.
JULY 13, 2026
Stampede Diplomacy
The ten-day celebration of western sport, heritage and cowboy culture that is the Calgary Stampede wrapped up on Sunday with a visit from Prime Minister Mark Carney. Like most federal leaders who use the event to rustle up western support, he came clad in acceptable Stampede attire – a cowboy hat, oversized belt buckle, checked shirt and jeans – to attend the chuck wagon races and closing breakfast. Playfully mocked by Alberta Premier Danielle Smith for his pancake-flipping skills, this visit was more than the usual political fly-by. Carney, who grew up in Edmonton, said in a social media video that he understands the festering resentments that have alienated western oil-producing provinces from Ottawa, and fuelled the separatist feelings that loomed over this year’s festivities. After meeting with Premier Smith, he played to the crowd, saying he was “feeling pretty good” about building a new pipeline to ship oil from Alberta to B.C. Will this prime minister have enough horse sense to realize the importance of delivering on his pipeline promise? While wearing cowboy hats and tossing pancakes make for great photo-ops, they may no longer be enough to keep Alberta in the Canadian corral.
