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Bank of Canada Holds at 2.25% — What the Fine Print Means for You

  July 15, 2026  |  Canadian Money Brief The Bank of Canada held its policy rate at 2.25% today, exactly as every economist surveyed expected. The number didn't move — but the story underneath it did. Between renewed oil-market chaos, a stubbornly hot inflation reading, and an economy that's finally showing signs of life, this "boring" hold decision was anything but simple. If you've been following our preview piece from earlier this week , this is the follow-up: what actually happened, and what it means for your mortgage, your savings, and your grocery bill. The Decision, in Plain English This marks the sixth consecutive hold since the Bank's last cut back in October 2025. The overnight rate stays at 2.25%, the Bank Rate at 2.5%, and the deposit rate at 2.20%. Bank prime — the number that actually determines your variable mortgage or line of credit rate — stays put at 4.45%. Governor Tiff Macklem has described this level as sitting near the bottom of the Bank...

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Slow-Roasted Salmon with French Herb Salsa

This slow-roasted salmon with an elegant fresh herb salsa is wonderful at room temperature, making it perfect for a holiday brunch or buffet.

Here is a recipe for Slow-Roasted Salmon with French Herb Salsa:

Ingredients:

  • 1 1/2 pounds center-cut salmon fillet, skin on
  • 1 tablespoon extra-virgin olive oil
  • 1 teaspoon kosher salt

For the French Herb Salsa:

  • 1 small shallot, finely chopped
  • 2 tablespoons white wine vinegar
  • 1/2 cup mixed fresh herbs, such as parsley, chervil, tarragon, and chives, finely chopped
  • 1/4 cup extra-virgin olive oil
  • 1/2 teaspoon kosher salt
  • Freshly ground black pepper

Instructions:

  1. Preheat the oven to 225°F and set an oven rack in the middle position.
  2. Place the salmon on a baking sheet. Drizzle with the olive oil and sprinkle the salt evenly over top.
  3. Slide the pan into the oven and roast for 40 to 50 minutes, until the fish begins to flake in the thickest part of the filet when poked with a knife or your finger.
  4. Meanwhile, in a small bowl, combine the shallot and vinegar and let sit for 15 minutes to macerate.
  5. In a separate small bowl, combine the herbs, olive oil, salt, and a few grinds of black pepper.
  6. Just before serving, use a slotted spoon to add the shallot (but not the vinegar, yet) to the herb oil. Stir, taste, and add the vinegar as needed (I usually add 2 to 3 teaspoons). Taste and adjust salt, if necessary.
  7. Break the salmon into large, rustic pieces and spoon the French herb salsa over top.



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