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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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U.S. and Israeli Defense Chiefs Discuss Strategies Amid Escalating Tensions in Gaza

 

As tensions escalate in the Gaza region, U.S. Defense Secretary Lloyd Austin and Israeli Defense Minister Yoav Gallant held a crucial meeting to address the ongoing crisis. Here are the key points from their discussion:

  1. Cease-Fire and Humanitarian Concerns:

    • The United States recently abstained from using its veto power in a United Nations Security Council vote, which called for an immediate cease-fire in Gaza.
    • Israel canceled a high-level delegation’s visit to Washington in response to the vote.
    • The focus of the meeting was on Israel’s plans to launch an offensive in Gaza’s southernmost city of Rafah, where over a million displaced people have sought shelter.
    • U.S. officials emphasized the need to address the threat posed by Hamas while ensuring civilian safety.

  2. Israel’s Determination and Challenges:

    • Israeli Prime Minister Benjamin Netanyahu has expressed determination to launch a military operation in Rafah.
    • He believes that Hamas cannot be defeated unless Israel targets four battalions, consisting of thousands of fighters, who are sheltering in the city.
    • The offensive has already resulted in significant casualties and displacement in Gaza.

  3. Lessons from Urban Operations:

    • The discussions included insights from the U.S.'s own experiences in conducting operations in urban environments.
    • Balancing military objectives with civilian safety remains a critical challenge.

  4. U.S. Position and International Pressure:

    • The U.S. abstention at the Security Council vote was a departure from its consistent stance during the conflict.
    • Israel expressed concern that this move might give Hamas hope that international pressure could force a cease-fire without securing the release of hostages.

In this delicate situation, both nations grapple with the complexities of military action, humanitarian needs, and regional stability. The outcome of their discussions will have far-reaching implications for the people of Gaza and the broader Middle East. 

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