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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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Your daily horoscope: October 7, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You enjoy a challenge and that’s good but your birthday chart warns you must not take on tasks that could be too much for you. Set yourself targets that will stretch you but which are still within your comfort zone. Life does not have to be a constant struggle.

ARIES (March 21 - April 20):

A succession of major changes are coming your way but there is no need to be fearful. On the contrary, as most if not all of those changes are going to be working in your favor you should put out the welcome mat and invite them all in.

TAURUS (April 21 - May 21):

You may not be entirely happy with the image you think other people have of you but do they really see you in a negative light or are you being overly critical of yourself? Most likely it’s the latter, so don’t go getting a makeover just yet.

GEMINI (May 22 - June 21):

If you act decisively today you will make a huge impression on the people around you and someone in a position of authority will go out of their way to sing your praises. Let them know you expect more than words – you expect a pay rise as well.

CANCER (June 22 - July 23):

You can quite easily find ways to get back at people who have been critical of you for no good reason but is it worth the effort? No it is not. Instead, focus on completing a project that will bring the kind of rewards no one can criticize.

LEO (July 24 - Aug. 23):

You may not think you deserve all the good things that friends and colleagues are now saying about you but in their eyes you are a bit of a hero. They especially admire your ability to turn what looked like a losing hand into a winning one.

VIRGO (Aug. 24 - Sept. 23):

Although Virgo is thought of as a conservative sign you possess an adventurous streak too and that side of your nature will be much in evidence over the next few days. Secretly, you will rather enjoy people seeing you as a bit of a rebel.

LIBRA (Sept. 24 - Oct. 23):

The message of the stars as the new week begins is that you need to get the balance right between being assertive and allowing others to call the shots. You may find that a more co-operative approach works better for you over the next few days.

SCORPIO (Oct. 24 - Nov. 22):

You may prefer to steer clear of issues that cause so much conflict but your sense of fair play won’t allow you to sit out whatever confrontation is now taking place. You don’t have to be on the side of the angels to know what is right.

SAGITTARIUS (Nov. 23 - Dec. 21):

Something that has been holding you back will suddenly and unexpectedly let go of you today and there is a danger that you will zoom off in the opposite direction. Going from one extreme to the other is rarely a good idea, so think before you react.

CAPRICORN (Dec. 22 - Jan. 20):

What you need to bear in mind today is that there is no copyright on ideas – if a friend or a colleague dreams up something you think you can benefit from then by all means use it. It won’t make you popular but it might make you rich!

AQUARIUS (Jan. 21 - Feb. 19):

Focus on the many good things in your life and ignore the one or two bad things that are really not such a big deal. Also, ignore those sad people who insist there is a major crisis looming when you know that their fears are totally groundless.

PISCES (Feb. 20 - Mar. 20):

You may be feeling more confident about your prospects but not everyone is convinced that you’ve got what it takes, so make it your business this week to prove them wrong. Don’t make too much of an effort over it though – make it look easy.

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