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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’s First Measles Death in Decades: A Grim Reminder for Unvaccinated Children

 

In a tragic turn of events, Ontario has reported its first measles-related death in decades. The victim was a child under the age of five from Hamilton, Ontario. Public Health Ontario (PHO) confirmed that the child was unvaccinated and had fallen seriously ill, ultimately succumbing to the disease.

The Alarming Situation

Measles, once considered a disease of the past, has made a concerning resurgence. Here are some key points:

  1. Unvaccinated Children at Risk: The child who tragically lost their life was one of five unvaccinated kids who fell ill this year. These cases highlight the vulnerability of unvaccinated children, especially when vaccination rates drop.

  2. Measles Cases on the Rise: In 2024, Ontario has already documented 22 cases of measles, nearly a quarter of the roughly 100 cases reported in the entire previous decade. This year’s death marks the province’s first fatal case since 1989.

  3. Global Immunization Challenges: Immunization rates against infectious diseases have declined globally, including in Canada. The pandemic disrupted vaccination programs, leading to missed doses. For example, the proportion of seven-year-olds in Ontario with zero vaccine doses rose significantly between 2019-2020 and 2022-2023.

The Importance of Vaccination

Measles is highly contagious and can lead to severe complications, including pneumonia, brain swelling, blindness, and respiratory failure. Children are supposed to receive two doses of the measles vaccine, with the first administered at 12 months of age. Unvaccinated children, especially those under five, remain at heightened risk.

A Call to Action

This tragic loss underscores the critical importance of vaccination. As a community, we must prioritize immunization to protect our children and prevent further outbreaks. Let us learn from this devastating event and work together to ensure a safer future for all.

Remember: Vaccines save lives. Let’s protect our children and each other.


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