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

Toronto Transit Workers Face Friday Strike Deadline

 

Toronto transit workers are on the brink of a strike unless negotiations see significant changes on key contract issues. The looming deadline, set for Friday just past midnight, could trigger the first TTC strike since 2008.

Core Issues and Impasse

ATU Local 113 president Marvin Alfred stated that negotiations have reached an “impasse.” The union’s nearly 12,000 members are moving toward a strike unless core issues—such as wages, benefits, and job security—are addressed. The union seeks protections against outsourcing jobs to third parties and cross-boundary service transfers to other Greater Toronto Area transit operators.

Optimism and Challenges

TTC spokesperson Stuart Green remains optimistic that a deal can be worked out before the deadline. Negotiations are likely to go down to the wire, balancing the challenging work of union members with affordability for the City of Toronto. TTC chair Jamaal Myers echoes this optimism, emphasizing the need for contingency plans.

Impact on Commuters

A strike could disrupt travel plans for tens of thousands of commuters who rely on TTC subways, streetcars, and buses. While both sides continue bargaining, it’s essential for commuters to have a backup plan in place.



Labels:

Comments

Post a Comment