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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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Aoun Calls for Hezbollah Disarmament Amid Rising Tensions

                                            Hezbollah members parade during a rally in Beirut's southern suburbs

Lebanese President Joseph Aoun has issued a bold appeal for Hezbollah and other armed factions to surrender their weapons to the Lebanese Army, marking a significant shift in Lebanon’s internal security discourse. His televised speech, delivered on Army Day, emphasized the need for a unified national defense under state control.

Aoun’s proposal comes amid growing U.S. pressure to disarm Hezbollah, which remains the only group to retain its arsenal following Lebanon’s civil war. The plan, to be presented to the Cabinet next week, includes:

  • A formal commitment to exclusive military authority for the Lebanese Army
  •  An immediate cessation of Israeli hostilities and withdrawal from occupied posts in southern Lebanon
  • A request for $1 billion annually over 10 years to strengthen Lebanon’s military and security forces
  • An international donor conference to support post-war reconstruction efforts

Hezbollah, however, remains defiant. Its leader, Sheikh Naim Qassem, argued that disarmament would serve Israeli interests, stating, “Anyone who demands the delivery of weapons is demanding the delivery of weapons to Israel”.

The U.S.-brokered ceasefire from last year’s war between Hezbollah and Israel left ambiguity around the group’s military presence north of the Litani River. While Lebanon and the U.S. interpret the agreement as requiring full disarmament, Hezbollah insists it only applies to the southern region.

President Aoun framed the moment as a “historic opportunity” to restore sovereignty and rebuild trust in Lebanon’s institutions. Whether this initiative gains traction remains uncertain, as Hezbollah’s resistance and regional dynamics continue to complicate the path forward.


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