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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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Nikki Haley Suspends Presidential Campaign, Paving the Way for Trump-Biden Rematch

 

Former U.S. Ambassador to the United Nations, Nikki Haley, has made a significant decision that will shape the upcoming U.S. presidential election. On Wednesday, Haley announced her suspension of the presidential campaign, effectively ensuring that Donald Trump will secure the Republican nomination. This development sets the stage for a high-stakes rematch between Trump and Democratic President Joe Biden in November.

Haley’s campaign suspension comes on the heels of Super Tuesday, during which Trump emerged victorious in 14 out of 15 Republican nominating contests. Although Haley outlasted other Republican challengers, she never posed a serious threat to the former president. Trump’s iron grip on the party’s base remained unshaken, despite facing multiple criminal indictments.

Nikki Haley garnered support from deep-pocketed donors who aimed to prevent Trump from securing a third consecutive Republican presidential nomination. Her strong performances in debates—performances that Trump chose to skip—highlighted her appeal to moderate Republicans and independent voters. Notably, she secured almost 40% of the vote in South Carolina and won unaffiliated voters by a wide margin in New Hampshire.

The impending rematch between Trump (77 years old) and Biden (81 years old) marks the first repeat U.S. presidential contest since 1956. However, it’s a contest that few Americans desire. Both candidates face low approval ratings among voters, and the election promises to deepen the existing political polarization in the country.

Biden portrays Trump as an existential threat to democratic principles, while Trump continues to re-litigate his false claims of victory in the 2020 election. As the nation braces for this divisive showdown, the question remains: Can either candidate bridge the gap and unite a fractured electorate?

In the end, Nikki Haley’s decision to step aside clears the path for a Trump-Biden rematch—one that will undoubtedly capture the attention of the entire nation.


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