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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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Tragedy Strikes: Israeli Airstrike on Gaza School Claims 80 Lives

 

In a devastating incident, an Israeli airstrike targeted a school-turned-shelter in Gaza City, resulting in the loss of at least 80 lives. Palestinian health authorities reported the casualties, making it one of the deadliest strikes in the ongoing 10-month conflict between Israel and Hamas. The Israeli military claimed that the strike hit a Hamas command center within the school, but evidence remains elusive. 

The Tabeen school, like many others in Gaza, had been providing refuge for displaced civilians forced to flee their homes due to the war. The tragedy unfolded during early morning prayers, catching people unaware and causing unimaginable suffering. The victims included women, children, and the elderly. 

As the world grapples with the human toll of this conflict, we must continue to seek peace and humanitarian solutions to prevent further loss of life.

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