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5 Things to Know Today: BoC Holds, the Loonie Slides, and Gas Prices Climb

  Thursday, July 16, 2026 Here's what's moving markets and your wallet today — from the Bank of Canada's latest rate call to a fresh jump at the pumps. 1. The Bank of Canada held its key rate at 2.25% The Bank of Canada kept its overnight rate unchanged at 2.25% this week, and its accompanying Monetary Policy Report flagged that inflation is still running hot enough to keep policymakers cautious. The Bank now expects overall growth of just 0.7% for 2026, picking up to 1.8% in 2027 and 2028 as exports recover and businesses adjust to the new trade landscape with the U.S. Inflation is projected to ease toward 2.5% in the second half of the year and return to the Bank's 2% target by early 2027 — assuming oil prices keep cooling as expected. What it means for you: Variable-rate mortgage holders and HELOC borrowers get another few months of payment stability, but don't expect a cut soon — the Bank wants to see inflation actually fall before it moves again. If you're...
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Hogue Inquiry Reveals 'Problematic' Conduct Among Parliamentarians

 

The Hogue inquiry has concluded that while some parliamentarians exhibited "problematic" conduct, none were found to have committed treason. The inquiry, led by Commissioner Marie-Josée Hogue, was established to investigate allegations of foreign interference in Canadian elections. The final report, released today, provides recommendations on how federal agencies can better protect against such meddling.

The inquiry's findings come amid a federal Liberal leadership race and the possibility of a national election in the near future. The report highlights the need for improved information sharing among federal agencies and better protection for vulnerable communities from transnational repression.

In an interim report issued last May, Hogue stated that interference by foreign entities did not affect the overall results of the last two general elections. However, the final report acknowledges that some parliamentarians were "semi-witting or witting" participants in foreign interference efforts.

The inquiry's recommendations aim to bolster election integrity and ensure that Canadian democratic processes remain robust and secure. Commissioner Hogue emphasized the importance of transparency and accountability in addressing these issues, while also noting that some information cannot be disclosed publicly due to national security concerns.

The release of the Hogue inquiry's final report marks a significant step in addressing foreign interference in Canadian politics and safeguarding the nation's democratic institutions.


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