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BoC Holds at 2.25%: What the Rate Decision (and Rising Gas Prices) Mean for Your Wallet

  Thursday, July 16, 2026 Sixth consecutive hold. A weaker 2026 growth forecast. And inflation that's running hotter because of gas prices, not the usual suspects. Here's what actually changes for you. The Bank of Canada held its overnight rate at 2.25% on Wednesday, exactly as markets expected. No surprise there. What's more interesting is why it held, and what it revealed about where the economy — and your bills — are headed next. This was the sixth straight hold since the Bank finished its easing cycle back in October. But buried in the accompanying Monetary Policy Report were a few numbers worth your attention. The Numbers That Matter Overnight Rate 2.25% (unchanged) Prime Rate (typical) 4.45% 2026 GDP Growth Forecast 0.7% (cut from 1.2%) 2027 / 2028 Growth Forecast 1.8% each year May CPI Inflation 3.2% Inflation Excluding Gasoline 2.2% Unemployment Rate (June) 6.5% Next Rate Decision September 2, 2026 Why Gas Prices Are Driving This Decision Here's the twist in th...
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The world is facing a demographic shift as the population ages. According to the United Nations, the number of people aged 60 and over is expected to reach 2.1 billion by 2050, up from 962 million in 2017. This trend has significant implications for social and economic development, as well as for health and well-being.

An ageing population poses many challenges, such as increasing demand for health care, social protection, and long-term care services, as well as potential declines in productivity, economic growth, and fiscal sustainability. However, an ageing population also offers opportunities, such as tapping into the potential of older workers, enhancing intergenerational solidarity, and promoting active and healthy ageing.

To address the challenges and opportunities of an ageing population, governments, civil society, and the private sector need to work together to develop policies and programs that support the rights and needs of older persons. Some of the key areas of action include:

1. Promoting lifelong learning and skills development to enable older workers to adapt to changing labor markets and contribute to economic development.

2.  Ensuring adequate and sustainable social protection systems that provide income security and access to health care for older persons.

3. Investing in age-friendly environments that enable older persons to live independently and participate in their communities.

4. Fostering social inclusion and intergenerational cooperation to combat ageism and discrimination and enhance social cohesion.

5. Supporting research and innovation on ageing-related issues to improve the quality of life and well-being of older persons.

An ageing population is not a problem to be solved, but a reality to be embraced. By recognizing the diversity and potential of older persons, we can create a more inclusive and sustainable society for all.

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