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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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Vancouver Festival Tragedy: Suspect's Troubled Past Comes to Light

In the aftermath of the devastating attack at Vancouver's Lapu-Lapu Day festival, which claimed 11 lives and left dozens injured, new details have emerged about the suspect's background. The accused, a 30-year-old Vancouver resident, has been charged with multiple counts of second-degree murder. Authorities have confirmed that the suspect had a significant history of interactions with police and mental health professionals prior to the incident.

The attack, described as the "darkest day in Vancouver's history" by Interim Police Chief Steve Rai, involved an SUV plowing through a crowded street during the Filipino community festival. Witnesses recounted scenes of chaos and horror as victims were struck by the speeding vehicle. Police have ruled out terrorism as a motive but continue to investigate the circumstances leading up to the tragedy.

The suspect's residence, which had seen recent visits from law enforcement, is now a focal point of the investigation. Vancouver Mayor Ken Sim emphasized the need for systemic changes to address mental health issues, which he identified as a contributing factor in this case.

The Filipino community, along with the broader Vancouver population, is mourning the loss of lives while rallying together in solidarity. Support centers have been established to assist those affected by the tragedy. 

This incident has sparked renewed calls for improved mental health resources and preventive measures to avert such senseless acts of violence in the future.

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