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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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Anxiety and Dismay Inside the Justice Department After Trump Taps Gaetz as Attorney General

 

President-elect Donald Trump's decision to nominate Congressman Matt Gaetz as Attorney General has sent shockwaves through the Justice Department. Gaetz, known for his staunch loyalty to Trump and his controversial past, including a federal sex trafficking investigation, has raised significant concerns among career lawyers and officials within the department.

Many Justice Department employees are worried about the future of the agency under Gaetz's leadership, given his lack of experience in law enforcement and his outspoken criticism of the department. Gaetz has previously called the Justice Department "corrupt and highly political" and has suggested abolishing agencies like the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Trump's choice of Gaetz is seen as a move to "shake the whole thing and throw a grenade into DOJ," according to former U.S. Attorney John Fishwick Jr. The nomination has left many within the department stunned and outraged, with some already considering looking for new jobs.

As Gaetz prepares to take on this new role, the Justice Department faces a period of uncertainty and potential upheaval, reflecting the broader political and legal challenges that lie ahead for the Trump administration.

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