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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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Israeli Army Issues New Evacuation Orders in North Gaza After Fresh Rocket Fire

 

Amid ongoing conflict, Israeli forces have issued fresh evacuation orders to Palestinians in areas of northern Gaza that were among the first to be hit during the war with Hamas in October. The latest evacuation orders come after militants fired a volley of rockets into Israel. The affected districts include Beit Hanoun and Beit Lahiya, both of which have been largely demolished since the start of Israel’s ground invasion. In a message sent via text or social media, army spokesperson Avichay Adraee urged residents to evacuate immediately to known shelters in the center of Gaza City for their safety.

Despite the fighting in Gaza, Israel is also preparing for a potential assault from Iran and its ally Hezbollah in the north. Tensions remain high, and the conflict continues to impact civilians, with casualties reported in nearby neighborhoods. The situation remains complex, with both sides engaging in military actions and civilians caught in the crossfire.



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