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Canadian Money Brief: 5 Things to Know Today — May 18, 2026

  A quick scan of the five stories shaping your wallet right now — from the Bank of Canada's next big decision to your mortgage renewal and a brand-new federal agency hunting financial criminals. 1 Bank of Canada Rate Holds at 2.25% — Next Decision Is June 10 The Bank of Canada kept its overnight policy rate steady at 2.25% at its April 29 meeting, citing a rise in energy-driven inflation and ongoing uncertainty from U.S. tariffs. Governing Council held firm while acknowledging a rate hike could become necessary if oil-linked price pressures prove persistent. The next announcement lands on Wednesday, June 10, 2026 — mark your calendar. Why it matters: Your variable-rate mortgage, HELOC, and lines of credit are directly tied to this rate. With bank prime rates sitting at 4.45%, every meeting counts. 2 Markets TSX Slips Below 34,000 as Bond Yields Spike The S&P/TSX Composite Index finished last week down close to 2%, sliding under the 34,000 mark. A global bond market selloff...
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Federal Government Boosts Vaccine Injury Compensation Fund with Additional $36 Million

 

The Canadian federal government has recently allocated an additional $36.4 million to the Vaccine Injury Compensation Fund, a program designed to support individuals who have experienced serious injuries or fatalities related to vaccines since the end of 2020. Here are the key details:

  1. Purpose of the Fund:

    • The program was established shortly after COVID-19 vaccines became available to the public.
    • It provides financial compensation to people who suffered adverse effects due to Health Canada-approved vaccines.
    • The goal is to assist those who were seriously impacted by vaccination.

  2. Funding and Administration:

    • The Liberal government initially earmarked $75 million for the first five years of the program.
    • A private firm called OXARO manages the program and disburses valid claims originating outside of Quebec.
    • To date, OXARO has received $56.2 million from Ottawa and has paid out $11.2 million in compensation.
    • Quebec has its own vaccine injury compensation program, which received $7.75 million when the federal program launched.

  3. Recent Funding Boost:

    • As part of the federal budget, the government allocated an additional $36 million to OXARO and Quebec.
    • This funding covers the next two years of the program.
    • The Public Health Agency of Canada contracted OXARO to ensure an impartial claims process.

  4. Eligibility and Claims:

    • The program covers injuries and deaths associated with vaccines approved for any illness.
    • Eligibility criteria include severe, life-threatening, or life-altering injuries resulting in disability, incapacity, birth defects, or death.
    • The available statistics do not specify which vaccines were involved.

  5. Rare Adverse Reactions:

    • Serious adverse reactions to vaccines are extremely rare (affecting less than one in a million people).
    • Nevertheless, the government recognizes its duty to provide support when such reactions occur.
    • Ottawa has also made COVID-19 vaccination mandatory for travel and federal public service employment.

In summary, the additional funding aims to ensure that those affected by vaccine-related injuries receive appropriate compensation while maintaining an impartial claims process. The program underscores the importance of vaccine safety and accountability in public health efforts. 


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