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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 Prime Minister's Office Refutes Claims of Hamas Agreement on Gaza Ceasefire

 

In a recent development, the office of Israeli Prime Minister Benjamin Netanyahu has denied reports that Hamas has agreed to a ceasefire proposal mediated by Qatar. Contrary to earlier claims by an Israeli official, the Prime Minister's office stated that Hamas has not yet responded to the deal.

The proposal, which aims to halt the ongoing conflict in Gaza, was reportedly set to be formally announced on Thursday, with the first phase of the agreement commencing on Sunday. However, the Prime Minister's office clarified that no official communication has been received from Hamas regarding their acceptance of the terms.

This denial comes amidst ongoing negotiations and efforts by international mediators to broker a ceasefire and secure the release of hostages held by Hamas in exchange for Palestinian prisoners. The situation remains fluid, with both sides yet to reach a final agreement.


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