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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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Diplomatic Tensions Between India and Canada Worry Punjab Residents

 


The recent diplomatic spat between India and Canada has left many residents of Punjab anxious about their future plans. The expulsion of diplomats from both countries, following the murder of a Sikh separatist leader, has heightened concerns among those planning to work, study, or visit family in Canada.

Students, who heavily rely on Canadian educational institutions, fear that the strained relations could lead to stricter visa regulations and reduced opportunities. Families with relatives in Canada are also worried about potential travel restrictions and the impact on their ability to visit loved ones.

Local leaders and community members are urging both governments to de-escalate the situation and find a diplomatic resolution to avoid further disruption to the lives of ordinary citizens.

The uncertainty has cast a shadow over the aspirations of many young people in Punjab, who see Canada as a land of opportunity for higher education and better career prospects. As the situation unfolds, the hope remains that dialogue and cooperation will prevail to restore normalcy and safeguard the dreams of those affected.


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