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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 Slaps 25% Tariff on Indian Imports Amid Rising Tensions

 

                                            US President Donald Trump and Indian Prime Minister Narendra Modi                                                    shake hands, at the White House, February 13, 2025

In a move that could reshape U.S.-India trade relations, President Donald Trump announced a 25% tariff on all goods imported from India, effective August 1, 2025. The decision, shared via his Truth Social account, also includes an unspecified penalty targeting India’s continued defense and energy ties with Russia.

Trump cited India’s “high tariffs” and “obnoxious non-monetary trade barriers” as justification for the action, expressing frustration over stalled negotiations for a bilateral trade agreement. Despite five rounds of talks, the two nations failed to reach a deal before the August deadline.

India, which exports nearly $86.5 billion worth of goods to the U.S. annually, now faces significant headwinds. Key sectors like chemicals, machinery, and electronics—once booming—may see sharp declines due to the new tariff regime.

Indian officials have expressed disappointment but remain committed to resolving the dispute diplomatically. The next round of trade talks is scheduled for late August in New Delhi.

This escalation comes at a time when India is strengthening global trade ties, including a recent agreement with the UK. However, the U.S. remains India’s largest export market, making this tariff a potentially disruptive force in the region’s economic landscape.

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