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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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Israeli Minister Floats Gaza Annexation Amid Stalled Ceasefire Talks

 

                                            Palestinians carry aid supplies that entered Gaza through Israel Wednesday                                             in the northern Gaza city of Beit Lahiya.

Amid growing international pressure and a worsening humanitarian crisis in Gaza, Israeli Security Cabinet member Zeev Elkin has suggested that Israel may consider annexing parts of the territory if Hamas continues to resist ceasefire negotiations. The proposal, aired during a public broadcast, is seen as a strategic move to pressure Hamas into surrendering and releasing hostages still held in Gaza.

Elkin stated that “losing lands” would be the most painful consequence for Hamas, implying that territorial loss could serve as a powerful bargaining chip. The remarks come as ceasefire talks have stalled, with both sides blaming each other for the impasse. Israel has reportedly warned Hamas that failure to accept current proposals could lead to punitive measures, including annexation of Gaza’s outer perimeter.

This development follows announcements from the UK and France that they will recognize a Palestinian state in September unless Israel agrees to a ceasefire and improves humanitarian conditions. Israel has condemned these moves, arguing that they reward Hamas for its October 2023 attack and undermine efforts to secure peace.

Meanwhile, the humanitarian situation in Gaza continues to deteriorate, with reports of hunger-related deaths and mounting global concern over potential famine. The annexation threat adds a new layer of complexity to an already volatile conflict, raising alarms among Palestinian leaders and international observers who fear long-term implications for regional stability and the viability of a two-state solution.

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