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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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Desperation in Gaza: Hunger Crisis Deepens Amid Looting

The Gaza Strip is witnessing a growing hunger crisis, marked by increased looting of food stores and community kitchens. Aid officials report that desperation has surged two months after Israel imposed a blockade on medical, fuel, and food supplies. At least five incidents of looting were recorded recently, including thefts at community kitchens, merchants' stores, and the UN Palestinian refugee agency's main complex.

The looting reflects the dire situation in Gaza, where hunger and hopelessness are spreading rapidly. Community kitchens, which have been lifelines for hundreds of thousands of Palestinians, are now at risk of closure due to dwindling supplies and looting. Acute malnutrition among children is worsening, with thousands of cases identified, including severe instances.

The blockade, enforced since March 2, has led to skyrocketing food prices and shortages of essential items. Aid organizations warn that the situation is reaching unprecedented levels, with humanitarian efforts hindered by operational and security constraints.

The crisis underscores the urgent need for international intervention to address the humanitarian catastrophe unfolding in Gaza.

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