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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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Austrian Envoy to EU Resigns Amid Scandal Over Anonymous Blog

 

                                            Thomas Oberreiter

Austria’s ambassador to the European Union, Thomas Oberreiter, has stepped down following reports that linked him to a sexually explicit blog written under a pseudonym. The blog, which reportedly featured graphic content blending fantasy and real-life imagery, had been active since at least 2015.

The Austrian foreign ministry confirmed Oberreiter’s resignation, stating that he requested dismissal for personal reasons after Foreign Minister Beate Meinl-Reisinger was made aware of the allegations. The ministry emphasized that its statement should not be interpreted as confirmation of the claims, citing data protection concerns.

Media outlets, including Der Standard, identified Oberreiter as the blog’s author, though he has denied the allegations. The blog, written under the name “Caro,” allegedly included disturbing scenes and misogynistic narratives.

Oberreiter had served as Austria’s permanent representative to the EU in Brussels since 2023. His departure marks a rare and dramatic turn in diplomatic circles, raising questions about privacy, accountability, and the boundaries of personal expression in public service.

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