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5 Things Every Canadian Should Know About Money Today

Canadian Money Brief — May 8, 2026 Your two-minute money briefing. Every weekday, MoneySavings.ca cuts through the noise to bring you the five financial stories shaping Canadians' wallets right now. Bookmark us, share us, and come back tomorrow. 1. The Bank of Canada Is Holding — And the Forecast Isn't Budging The Bank of Canada kept its overnight policy rate at 2.25% at its April 29 meeting, and the message from Governor Tiff Macklem to the House of Commons Standing Committee on Finance this week was clear: don't expect a move anytime soon. The Bank projects the Canadian economy will expand at a modest 1.2% in 2026 , picking up gradually to 1.6% in 2027 and 1.7% in 2028 as export growth and business investment slowly return. The near-term drag? Ongoing U.S. tariff uncertainty and a sharp jump in energy prices tied to the conflict in the Middle East. Inflation, which sat at 1.8% in February, had already climbed to 2.4% by March and is forecast to peak around 3% i...
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Markets Surge on Positive U.S. Retail Data


The stock markets opened with a bang today as both the TSX and the S&P 500 reached record highs, buoyed by encouraging U.S. retail data.

The S&P 500 climbed by 1.2%, closing at 5,308.15, while the TSX Composite Index rose by 41.42 points to settle at 22,284.76. This surge was driven by strong performances in the technology and utility sectors, reflecting investor optimism following a favorable U.S. retail sales report.

The U.S. retail data showed a robust increase in consumer spending, which has been a key indicator of economic health. This positive sentiment was further bolstered by lower-than-expected inflation figures, providing a double dose of good news for the markets.

Kathrin Forrest, an equity investment specialist at Capital Group, noted, "It’s been a really constructive day for equities, certainly in North America. The technology sector, in particular, ended the week with a strong rally, led by semiconductor companies".

As investors continue to digest these positive economic indicators, the outlook for the markets remains optimistic. The combination of strong retail sales and manageable inflation suggests a resilient economy, which is likely to keep the markets buoyant in the near term.


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