Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Red Sea Shipping Crisis Worsens After US and UK Strike Yemen

 

The Red Sea, a vital waterway for global trade, has become a hotspot of conflict and insecurity after the US and UK launched airstrikes against Houthi rebels in Yemen, who have been attacking commercial vessels with missiles and drones.

The airstrikes, which began on Thursday, were a response to the 27th Houthi attack on shipping since November, according to the US military. The Houthis, who are backed by Iran, have been targeting ships in the southern Red Sea and the Bab al-Mandab Strait, a narrow passage that connects the Red Sea to the Gulf of Aden.

The escalation of violence has disrupted the flow of oil, gas, grains, and manufactured goods through the region, which accounts for about 12% of global seaborne trade. Many shipping companies have suspended or diverted their operations, opting for the longer and more costly route around Africa. Some insurers have also raised their premiums or restricted their coverage for vessels passing through the area.

The shipping crisis has added to the humanitarian catastrophe in Yemen, where a civil war has been raging since 2015. The UN estimates that more than 20 million people are in need of humanitarian assistance, and that millions are on the brink of famine. The airstrikes have also raised fears of a wider regional conflict, as Iran and its allies clash with the US and its allies over various issues, including the nuclear deal and Israel’s war in Gaza.

Labels:

Comments

Post a Comment