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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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Tragic Airstrike in Northern Gaza Claims Over 60 Lives

 


In a devastating incident, an Israeli airstrike on a five-story building in the northern Gaza Strip has resulted in the deaths of at least 60 people, according to Gaza’s Health Ministry. The building, located in Beit Lahiya, was sheltering displaced Palestinians, many of whom were women and children.

The strike occurred early Tuesday morning, causing significant casualties and leaving many others injured or trapped under the rubble. Emergency services are working tirelessly to rescue those still buried beneath the debris.

This incident is part of a larger ongoing conflict in the region, with Israel conducting extensive military operations in northern Gaza. The Israeli Defense Forces (IDF) stated that they are aware of civilian casualties and are investigating the incident. The IDF emphasized that their operations target Hamas militants and that efforts are made to avoid civilian harm.

The humanitarian impact of this strike has been profound, with local hospitals overwhelmed by the influx of wounded individuals. The international community continues to call for a ceasefire and increased humanitarian aid to the affected areas.


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