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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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Breaking Barriers: Cherry Vann Named Britain's First Woman and LGBTQ+ Archbishop

 

                                            While the broader, international Anglican Communion has had openly gay bishops before,                                                              Vann will be the first lesbian to serve as archbishop globally

In a landmark moment for religious leadership in Britain, Bishop Cherry Vann has been elected as the Archbishop of the Church in Wales, becoming the first woman and openly LGBTQ+ cleric to lead any of Britain’s Anglican churches.

Vann, who was among the first women ordained as priests in the Church of England in 1994, previously served as Archdeacon of Rochdale and later as Bishop of Monmouth. Her appointment is not only historic for the Church in Wales, which separated from the Church of England in 1920, but also globally significant—she is the first lesbian to serve as an archbishop anywhere in the Anglican Communion.

Affiliated with the Open Table Network, a Christian initiative supporting LGBTQ+ worshippers, Vann lives with her civil partner, Wendy, and their two dogs. While the Church in Wales does not conduct same-sex marriages, it permits clergy to enter into civil partnerships.

Vann succeeds Archbishop Andrew John, who resigned following internal reports concerning governance and safeguarding issues. In her first statement, Vann emphasized her commitment to addressing these concerns and fostering healing and reconciliation across the Church.

Her election has been widely celebrated as a progressive step toward inclusivity and diversity in religious leadership, setting a precedent for future generations of clergy from all backgrounds.


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