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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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Canada Loses Appeal of FIFA Penalty in Olympic Drone Spying Scandal

 


In a significant setback for Canadian soccer, the Court of Arbitration for Sport (CAS) has dismissed Canada’s appeal against a six-point deduction imposed by FIFA. This penalty stems from a drone-spying scandal during the Olympic women’s soccer tournament in Paris 2024.

The controversy began when New Zealand lodged a complaint, alleging that Canadian staff used drones to spy on their training sessions before their opening match. Following an investigation, FIFA docked Canada six points and imposed one-year bans on head coach Bev Priestman and officials Joseph Lombardi and Jasmine Mander.

Despite winning both of their games, the point deduction leaves Canada with zero points in the standings. The CAS ruling, delivered just hours before Canada’s crucial match against Colombia, means the team faces an uphill battle to advance to the quarterfinals.

The Canadian Olympic Committee and Canada Soccer argued that the penalty was disproportionate and unfairly punished the athletes, who were not involved in the alleged cheating. However, the CAS upheld FIFA’s decision, emphasizing the importance of maintaining the integrity of the sport.

This ruling has significant implications for Canada’s chances in the tournament and underscores the serious consequences of violating fair play principles in international sports.


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