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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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Lockheed Martin's Proposal: Job Creation Tied to F-35 Fighter Jet Contract

 

Lockheed Martin, the U.S. defense contractor behind the F-35 fighter jet, has proposed creating additional jobs in Canada if the Canadian government commits to fulfilling its full order of 88 F-35 aircraft. This offer comes amidst ongoing discussions about the $19 billion contract, which was initially signed in 2023 to replace Canada's aging CF-18 fleet.

Currently, Canada has committed to purchasing only 16 of the 88 jets, with the first deliveries expected in 2026. Lockheed Martin's proposal aims to incentivize Ottawa to proceed with the remaining 72 aircraft by emphasizing the economic benefits of job creation. The company has highlighted the potential for roles in engineering, manufacturing, and other sectors critical to the Canadian economy.

However, the proposal is not without controversy. Prime Minister Mark Carney has ordered a review of the F-35 contract, citing concerns over trade relations with the United States and the geopolitical implications of relying on U.S.-made military equipment. Alternatives, such as the Swedish Gripen fighter jet, are also being considered, with some advocating for domestic production to boost Canadian sovereignty and job creation.

As the federal government navigates these complex decisions, the debate over the F-35 contract underscores the intersection of defense procurement, economic growth, and international relations.


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