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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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Skillet Turkey Burgers


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Juicy and savory with a well-browned crust, these skillet turkey burgers rival the best beef burgers.

INGREDIENTS

  • 1¼ pounds 93% lean ground turkey 
  • ½ teaspoon salt
  • ½ teaspoon ground black pepper
  • 2 teaspoons Worcestershire sauce
  • ½ cup whole milk Ricotta cheese
  • ¼ cup Italian seasoned bread crumbs
  • 2 teaspoons Dijon mustard
  • 1 tablespoon vegetable oil, for cooking
  • 4 hamburger buns (lightly toasted and buttered, if desired)

INSTRUCTIONS

  1. 1. Preheat the oven to 350°F and set an oven rack in the middle position.
  2. 2. Place the ground turkey in a medium-size bowl. Add the salt, pepper, Worcestershire sauce, ricotta cheese, bread crumbs, and mustard. Using your hands, mix until well blended. Divide the meat mixture into 4 equal portions. Lightly toss one portion from hand to hand to form a ball, then lightly flatten the ball with your fingertips into a ¾-inch-thick patty with a slight depression in the center (this prevents the burgers from puffing up when cooked). Repeat with the remaining portions.
  3. 3. Heat a large, heavy, ovenproof skillet over medium heat until very hot, 4 to 5 minutes. Add the oil to the pan and swirl to coat the bottom. Add the burgers and cook over medium heat, without moving the burgers, until the bottom side of each is dark golden brown and crusted, 3 to 4 minutes. Turn the burgers over; continue to cook until the bottom side is light brown but not yet crusted, about 3 minutes longer. Transfer the pan to the oven and continue cooking for 7 to 8 minutes, or until the burgers are completely cooked (an instant-read thermometer inserted from the side of the burger into the center should register 160°F). Remove the burgers from the pan and serve immediately.
  4. Freezer-Friendly Instructions: The uncooked burgers can be frozen for up to three months. (Freeze the burgers on a baking sheet or plate so their shape sets, then transfer them to a sealable plastic bag for easy storage.) Defrost the burgers overnight in the refrigerator prior to serving and then cook as directed.

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