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5 Things to Know Today About Your Money — May 12, 2026

  A lot is happening in the Canadian money world right now. From a new sovereign wealth fund you can actually invest in, to lower payroll costs coming your way, here are the five things every Canadian should know about their money today. 1. The Bank of Canada Is Holding Rates — For Now On April 29, 2026 , the Bank of Canada held its overnight rate at 2.25% (Bank Rate: 2.50%, deposit rate: 2.20%). Governor Tiff Macklem has flagged that the economy is growing at a moderate pace as it adjusts to U.S. tariffs, but inflation — now around 2.4% — is edging up due to higher oil prices tied to the ongoing Middle East conflict. The Bank projects 1.2% economic growth for 2026, picking up to 1.6% in 2027. What it means for you: Variable-rate mortgage and line-of-credit holders get a brief reprieve — but watch oil prices. If inflation keeps rising, a rate hike could follow. 2. Your CPP Contributions Are Getting a Cut in 2027 The 2026 Spring Economic Update proposes to reduce the base CPP con...
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Quebec Braces for Potential Influx of Migrants Amid U.S. Deportation Concerns

 

As the political landscape in the United States shifts with the return of Donald Trump to the presidency, Quebec is preparing for a possible surge in migrants. Trump’s promise to deport millions of undocumented immigrants has raised alarms in Canada, particularly in Quebec, where officials are bracing for an increase in border crossings.

Concerns Over Border Crossings

Quebec Premier François Legault has expressed concerns about the province’s capacity to handle a potential influx of migrants. He emphasized the need for robust border security and regular updates from the federal government on the situation. The closure of Roxham Road, a popular crossing point for asylum seekers, has already made the journey more perilous, pushing migrants to seek alternative, often more dangerous, routes.

Community Response

Community groups in Quebec, such as the Welcome Collective, are preparing for an increase in new arrivals. These groups are concerned about the safety of migrants, especially those who might attempt to cross in remote areas during the harsh winter months. The RCMP has also been on high alert, ready to respond to various scenarios, from a few individuals to a massive influx.

Political Reactions

The political discourse in Quebec has been heated, with leaders from different parties voicing their concerns. Parti Québécois Leader Paul St-Pierre Plamondon warned of a significant migration wave, while Frantz André from the Action Committee for People Without Status criticized the use of Trump’s election to stoke fears about asylum seekers. Meanwhile, Québec solidaire acknowledged the potential impact of U.S. deportations on Quebec but called for a balanced approach.

Looking Ahead

As the situation unfolds, Quebec remains vigilant, balancing the need for security with compassion for those seeking refuge. The province’s response will be crucial in managing the potential challenges and ensuring the safety and well-being of all residents.


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