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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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Tensions Escalate as Israeli Forces Open Fire on Protestors in Southern Lebanon

In a tragic turn of events, Israeli forces opened fire on protestors in southern Lebanon on Sunday, resulting in the deaths of at least 11 individuals and injuring more than 80 others. The protestors, some carrying Hezbollah flags, were demanding the withdrawal of Israeli troops in accordance with a ceasefire agreement that had been in place since late November.

The Lebanese Health Ministry reported that the casualties included two women and a Lebanese army soldier. The protestors had breached roadblocks set up by the Israeli army, leading to the violent confrontation. The Lebanese army has stated that it cannot fully deploy to the area until Israeli forces withdraw, while Israel maintains that it needs to stay longer to ensure that Hezbollah does not reestablish a military presence.

Lebanese President Joseph Aoun addressed the people of southern Lebanon, emphasizing the importance of Lebanon's sovereignty and urging residents to exercise self-restraint and trust in the Lebanese Armed Forces. The situation remains tense as both sides navigate the complexities of the ceasefire agreement and the ongoing conflict.

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