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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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Biden and Trump Agree to Two Presidential Debates Ahead of 2024 Election

 

In a surprising turn of events, U.S. President Joe Biden and former President Donald Trump have agreed to participate in two general election debates. The first debate is scheduled for June 27, hosted by CNN, and the second will take place on September 10, hosted by ABC. This sets the stage for their first presidential face-off, just over a month away.

The quick agreement on the debate timetable followed Biden’s announcement that he would not participate in the fall presidential debates sponsored by the nonpartisan commission that has organized them for more than three decades. Instead, Biden’s campaign proposed that media outlets directly organize the debates between the presumptive Democratic and Republican nominees.

The unusually early timing of the first debate means that neither Biden nor Trump will have formally accepted their party’s nomination. Hours after Biden’s announcement, he accepted an invitation from CNN, playfully adding, “Over to you, Donald.” Trump, who had previously insisted he would debate Biden anytime and anywhere, confirmed his participation on Truth Social, saying, “Let’s get ready to Rumble!!!” Soon after, they agreed to the second debate on ABC.

The swiftness with which these debates were arranged reflects each candidate’s strategy. Trump and his team believe the debates will highlight voters’ concerns about Biden’s age and competence, while Biden’s team aims to remind voters of why they voted Trump out of the White House four years ago. These debates are particularly crucial in a year when voters express underwhelming enthusiasm for their choices and have concerns about the candidates’ advanced ages—Biden is 81, and Trump is 77.

As the election season heats up, all eyes will be on these debates, where the two candidates will face off in a high-stakes showdown. The outcome could significantly impact the trajectory of the 2024 election, making these debates a critical moment on the political calendar.

Stay tuned for more updates as the candidates prepare to spar on the national stage! 

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