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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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Mexico Prepares for Potential Tariffs with Contingency Plans

Mexico is bracing itself for the possibility of U.S. President Donald Trump imposing tariffs on its goods. President Claudia Sheinbaum assured the public during a press conference that the country is well-prepared with multiple contingency plans, though she refrained from disclosing specific details. "We have a plan B, C, D," Sheinbaum stated, emphasizing Mexico's readiness for any outcome.

The tariff threat stems from U.S. concerns over issues like synthetic drug trafficking and migrant arrivals at its borders. Trump has criticized both Mexico and Canada for not taking stronger action on these matters. In response, Mexican officials recently engaged in diplomatic talks with their U.S. counterparts in Washington, which Sheinbaum described as "cordial" and productive.

While the outcome remains uncertain, Sheinbaum's reassurances highlight Mexico's proactive approach to safeguarding its economy and maintaining strong bilateral relations with the U.S.

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