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5 Things to Know Today About Your Money — May 12, 2026

  A lot is happening in the Canadian money world right now. From a new sovereign wealth fund you can actually invest in, to lower payroll costs coming your way, here are the five things every Canadian should know about their money today. 1. The Bank of Canada Is Holding Rates — For Now On April 29, 2026 , the Bank of Canada held its overnight rate at 2.25% (Bank Rate: 2.50%, deposit rate: 2.20%). Governor Tiff Macklem has flagged that the economy is growing at a moderate pace as it adjusts to U.S. tariffs, but inflation — now around 2.4% — is edging up due to higher oil prices tied to the ongoing Middle East conflict. The Bank projects 1.2% economic growth for 2026, picking up to 1.6% in 2027. What it means for you: Variable-rate mortgage and line-of-credit holders get a brief reprieve — but watch oil prices. If inflation keeps rising, a rate hike could follow. 2. Your CPP Contributions Are Getting a Cut in 2027 The 2026 Spring Economic Update proposes to reduce the base CPP con...
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Baklava Recipe

 

 Baklava is a layered phyllo pastry filled with chopped nuts and drenched in a fragrant honey syrup. It’s a beloved dessert with regional variations throughout the Middle East, each featuring different combinations of nuts, spices, and flavorings.

Ingredients:

  • 1 pound walnuts (toasted and cooled)
  • 1 cup granulated sugar
  • 1 teaspoon ground cinnamon
  • 1/4 teaspoon ground nutmeg
  • 1 package phyllo dough (found in the freezer section of most supermarkets)
  • 1 1/4 cups unsalted butter (melted)
  • For the syrup:
    • 1 cup granulated sugar
    • 1 cup water
    • 1 cup honey
    • Juice of 1 lemon
    • Pinch of salt
    • Optional: cinnamon stick and orange rind

Instructions:

  1. Toast the Walnuts:
    • Arrange the walnuts in a single layer on a parchment-covered baking sheet.
    • Bake until fragrant, 7 to 10 minutes. Let them cool until just warm to the touch.
  2. Make the Filling:
    • In a food processor, combine the toasted walnuts, granulated sugar, ground cinnamon, and ground nutmeg.
    • Process until the mixture looks like sand and small pebbles.
    • Transfer the mixture to a medium bowl and set aside.
  3. Make the Syrup:
    • In a small saucepan, combine granulated sugar, water, honey, lemon juice, salt, and optional cinnamon stick and orange rind.
    • Bring to a boil over medium heat, then reduce the temperature to low and simmer, uncovered, for 5 minutes.
    • Let the syrup cool until you’re ready to use it.
  4. Assemble the Baklava:
    • Lay the phyllo on your work surface.
    • Trim the sheets into 8 x 12-inch rectangles to fit the baking dish.
    • Brush melted butter on the bottom of the pan.
    • Add the phyllo, 2 sheets at a time, drizzling with butter after every 2 sheets.
    • On the 14th sheet, add 1/3 of the walnut filling, spreading it evenly.
    • Repeat the layers: 6 more phyllo sheets, another third of the filling, and so on.
    • Finish with 14 more layers of phyllo, not buttering the top layer.
  5. Cut the Baklava:
    • Using a very sharp knife, cut the baklava all the way through the layers.
    • You can keep it simple and make 24 squares or cut each square into a diamond shape.
    • If any butter remains, spoon it into the cut lines.

Enjoy your homemade baklava! It’s buttery, crisp, flaky, and super-sweet — everything you could want in this delightful Middle Eastern treat. 

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