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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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Tensions Rise as Trump Warns Medvedev Amid US-Russia War of Words

 

                                                     Vladimir Putin pictured with former president Dmitry Medvedev, who is currently deputy                                                             chairman of the Security Council

The diplomatic rift between the United States and Russia deepened this week as former U.S. President Donald Trump issued a sharp rebuke to Russian official Dmitry Medvedev, telling him to “watch your words.” The comment came in response to Medvedev’s recent statements criticizing U.S. foreign policy and warning of consequences if Washington continues its stance on global security issues.

Trump’s remark, delivered via social media, reignited a flurry of exchanges between the two nations, with Russian officials accusing the U.S. of “provocative rhetoric” and “imperial arrogance.” Medvedev, the former Russian president and current deputy chairman of the Security Council, has been increasingly vocal in recent months, often using inflammatory language to describe Western policies.

The escalation underscores the fragile state of U.S.-Russia relations, which have been strained by ongoing conflicts, sanctions, and accusations of election interference. Analysts warn that the war of words could further complicate diplomatic efforts and fuel geopolitical instability.

While Trump no longer holds office, his influence on international discourse remains potent, and his comments continue to shape the tone of U.S. engagement abroad. The latest exchange suggests that tensions between Washington and Moscow are unlikely to cool anytime soon.


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