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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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Chicken Cacciatore

 

Ingredients:

  • 4 chicken thighs
  • 2 chicken breasts (with skin and backbone, halved crosswise)
  • 2 teaspoons salt (plus more to taste)
  • 1 teaspoon freshly ground black pepper (plus more to taste)
  • 1/2 cup all-purpose flour (for dredging)
  • 3 tablespoons olive oil
  • 1 large red bell pepper (chopped)
  • 1 onion (chopped)
  • 3 garlic cloves (finely chopped)
  • 3/4 cup dry white wine
  • 1 (28-ounce) can diced tomatoes (with juice)
  • 3/4 cup reduced-sodium chicken broth
  • 3 tablespoons drained capers
  • 1 1/2 teaspoons dried oregano leaves
  • 1/4 cup coarsely chopped fresh basil leaves

Instructions:

  1. Season the chicken with 1 teaspoon of salt and 1 teaspoon of pepper. Dredge the chicken in the flour and coat well.
  2. In a large heavy sauté pan, heat the oil over a medium-high flame. Add the chicken and brown on both sides. Remove from the pan and set aside.
  3. Keeping the same pan over medium heat, add the peppers, onions, and garlic and sauté until tender, about 5 minutes.
  4. Add the wine and simmer for 1 minute. Add the tomatoes with their juice, broth, capers, and oregano. Return the chicken to the pan and turn them to coat in the sauce. Bring the sauce to a simmer.
  5. Continue simmering over medium-low heat until the chicken is just cooked through, about 30 minutes for the breast pieces, and 20 minutes for the thighs.
  6. If using, sprinkle the chopped basil over the chicken and serve.


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