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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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Ontario Cuts Ties with Starlink Amid Secrecy Over Contract Costs

 

                                           Province officially cancels Starlink contract to provide
                                           internet to thousands in rural and northern Ontario


Deal Terminated Without Transparency

The Ontario government has confirmed it has officially ended its contract with Elon Musk’s satellite internet provider, Starlink, but is refusing to disclose how much it cost to terminate the agreement. Originally aimed at expanding high-speed internet access in rural and remote areas, the deal was part of Ontario’s broader push for improved connectivity across the province.

Background of the Partnership

The collaboration, announced in 2021, promised to leverage Starlink’s low-Earth orbit satellite network to reach underserved communities. However, the agreement faced growing scrutiny over its feasibility, implementation challenges, and the financial implications of opting for this relatively new technology over existing options.

Lack of Cost Transparency Raises Concerns

Ontario officials confirmed the contract’s cancellation but declined to reveal the financial fallout, citing confidentiality clauses and commercial sensitivity. This decision has raised eyebrows among transparency advocates, who argue that public money should come with public accountability.

What’s Next for Rural Connectivity?

With Starlink off the table, Ontario says it remains committed to bridging the digital divide but hasn't offered details on new partners or plans. The province's updated strategy is expected in the coming months.


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