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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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Market Cautious as Jobs Data Looms

                                           

US stock futures retreated today as investors cautiously weighed rate-cut odds ahead of crucial jobs data.

 Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) both fell roughly 0.4%, while tech-heavy Nasdaq 100 futures (NQ=F) were down about 0.6%. 

The market is playing it safe in a week dominated by Friday’s June jobs report, and doubts are creeping in about stocks maintaining their first-half rally. Investors are also closely watching political risk, speculating on what a Trump election win could mean for markets. 

Jerome Powell’s speech and weekly job openings data will further shape expectations for interest-rate cuts.


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