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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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Tariff Tensions: Trump Threatens 25% on Canadian Goods, Hints at a 10% Oil Levy

 

In a provocative statement aimed at pressuring North American trade partners, President Donald Trump has warned that Canada could face a sweeping 25% tariff on its imports if its policies on border security and drug trafficking remain unchanged. However, in a notable twist, the President suggested that Canadian oil might be subject to a more moderate 10% levy rather than the full tariff rate, a move that could help cushion the blow for one of Canada’s key exports. citeturn0search2

Trump’s remarks underscore his administration’s strategy of using tariffs as a negotiating tool to enforce stricter border controls and compel reforms on issues such as the illegal flow of fentanyl into the United States. While the threat of a 25% tariff has raised concerns among Canadian officials about the potential for retaliatory measures, the possibility of a lower levy on oil imports appears to be a calculated effort to avoid disrupting an energy market that is critical to both economies.

Economic analysts caution that imposing such tariffs could trigger a ripple effect—raising prices for American consumers and unsettling the tightly woven trade ties between the two nations. As both sides prepare for what may be intense negotiations in the coming weeks, the broader implications of this tariff strategy are being closely watched by businesses and policymakers alike.

The coming days are expected to bring heated discussions as Canada and the United States seek a resolution that preserves mutual economic interests while addressing the contentious issues at the border.

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