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

Israel Orders New Evacuations in Rafah as it Prepares to Expand Military Operations

 

In a significant development, Israel has ordered new evacuations in Gaza’s southern city of Rafah. Tens of thousands of people are being forced to move as the Israeli military prepares to expand its operations closer to the heavily populated central area. This move comes despite growing pressure from close ally the United States and other international actors.

The situation in Rafah is critical. Israel has already evacuated the eastern third of the city, which is considered the last refuge in Gaza. However, the United Nations and other agencies have warned that a full-scale invasion of Rafah would have dire consequences for humanitarian operations and could lead to a surge in civilian casualties. Rafah shares a border with Egypt near the main aid entry points, which have already been affected by the conflict.

U.S. President Joe Biden has taken a firm stance, stating that offensive weapons will not be provided to Israel for its operations in Rafah. The U.S. report also highlighted “reasonable” evidence that Israel breached international law protecting civilians during its war against Hamas. In response, Israel emphasized its compliance with the laws of armed conflict and its efforts to minimize civilian casualties.

More than 1.4 million Palestinians—half of Gaza’s population—have sought refuge in Rafah, most of them fleeing Israel’s offensives elsewhere. The ongoing evacuations are forcing people to return north to areas that have already been devastated by previous Israeli attacks. Displaced residents are grappling with the difficult decision of leaving their homes in search of safety. As one Rafah resident put it, “The Israeli army does not have a safe area in Gaza. They target everything” .

The situation remains tense, and the international community closely watches the developments in Rafah. The impact on civilians and humanitarian operations cannot be overstated, and efforts to find a peaceful resolution continue amidst the escalating conflict.


Labels:

Comments

Post a Comment