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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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Ontario Science Centre to Close Immediately Due to Roof Collapse Risk

 


The Ontario Science Centre, a beloved landmark in Toronto, is facing an immediate closure due to the risk of its roof collapsing. An engineering report revealed that the more than 50-year-old building is at risk of potential roof panel failure, exacerbated by this winter’s snow load. The situation has prompted urgent action to ensure public safety.

Roof Condition and Closure Details

  • The roof structure in certain parts of the facility was constructed using outdated materials and systems, leading to deterioration.
  • Enhanced monitoring will keep the building safe over the summer months, allowing staff to vacate safely.
  • Infrastructure Ontario will seek alternative locations for the science centre while the new one at Ontario Place is under construction, expected to be completed by 2028.
  • Previously scheduled private events will proceed over the weekend, with reimbursements for science centre members and summer camp participants.
  • Efforts will be made to minimize disruption to the public and maintain the centre’s mandate through interim facilities and alternative programming options.

Background and Controversy

The Ontario Science Centre, which opened in 1969, was the world’s first interactive science centre. Advocates have fought to keep it at its original Don Mills location, even after Premier Doug Ford announced its move to Ontario Place during waterfront revitalization. The new facility will be smaller but offer more exhibition space.

The closure underscores the importance of maintaining critical infrastructure and addressing deferred maintenance needs. Fixing the roof is estimated to cost between $22 million and $40 million, necessitating a closure of up to two years. As the province navigates this challenge, the legacy of scientific exploration and education remains at the forefront.


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