News of the day: Inflation creeps higher, Bank of Canada in no rush, AI speeds up drug discovery, RBC joins Wrexham, manufacturing sales surge and more

Canada's inflation rate rose to 3% in July, driven by higher gasoline prices, while economists watch for the impact of new 50% U.S. tariffs on the Consumer Price Index. Meanwhile, an Ontario startup is using AI to speed up drug discovery for diseases like cancer and Alzheimer's, and RBC has become a sponsor and official banking partner of Ryan Reynolds' Wrexham AFC soccer team.

News of the day: Inflation creeps higher, Bank of Canada in no rush, AI speeds up drug discovery, RBC joins Wrexham, manufacturing sales surge and more It's Monday, August 17. Here are the top stories we're following today. Canada's inflation rate creeps up to 3% after gas prices spike Higher gasoline prices pushed Canada's inflation rate up to three per cent in July, but economists said they'll be watching whether new 50 per cent U.S. tariffs go into effect this week to determine which way the Consumer Price Index will move next. No rush for Bank of Canada to raise interest rate even as inflation rate hits 3%, say economists Here's what economists say the inflation data might mean for the economy and interest rates. How their mother's death spurred two brothers to speed up the drug discovery process through AI An Ontario startup aims to speed up drug discovery workflows for diseases such as cancer and Alzheimer's with artificial intelligence. 'This one is personal': RBC becomes sponsor of Ryan Reynolds' Wrexham AFC soccer team Canada's largest bank has inked a deal to become a sponsor and official banking partner of Wrexham AFC, an English soccer club that is majority co-owned by Hollywood actors Ryan Reynolds and Rob Mac. Canadian manufacturing sales surged to record level in second quarter, despite tariffs Manufacturing sales in Canada climbed in the second quarter of 2026 for the fourth quarter in a row, another sign that the Canadian economy rebounded after a sluggish start to the year.