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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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Trump-Era Tariffs Under Scrutiny in Pivotal Appeals Court Case

 

                                             US President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House 

A major legal challenge to former President Donald Trump’s steel and aluminum tariffs is now facing a critical test at a U.S. appeals court, potentially reshaping the scope of presidential trade authority.

The case centers on Section 232 of the Trade Expansion Act of 1962, which allows the president to impose tariffs on imports deemed a threat to national security. Trump used this provision in 2018 to levy tariffs on steel and aluminum from several countries, sparking backlash from trade partners and legal challenges from affected companies.

Plaintiffs argue that the administration exceeded its authority by expanding and modifying the tariffs beyond the original scope without proper congressional oversight. The government contends that the president acted within the bounds of national security concerns and that the executive branch has broad discretion under Section 232.

The outcome of the appeals court decision could have far-reaching implications—not only for the Trump-era tariffs but also for future administrations seeking to use trade tools for geopolitical or economic leverage. Legal experts say the case may clarify the limits of executive power in trade policy and influence how future tariff actions are implemented.

A ruling is expected later this year.


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