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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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Israeli Strikes in Gaza and Syria: Escalation Amidst Regional Unrest

 

In a significant escalation of tensions in the Middle East, Israeli forces launched airstrikes targeting both Gaza and suspected weapons sites in Syria. The strikes in Gaza resulted in the deaths of at least six people, including one woman. Among the casualties was Raed Ghabaien, who was killed along with his wife when an Israeli strike hit their tent in Zuweida.

Simultaneously, Israeli forces targeted suspected chemical weapons and missile sites in Syria. This action follows the recent capture of Damascus by Syrian rebel forces, leading to the ousting of President Bashar al-Assad, who has reportedly fled to Moscow.

The U.N. Security Council is set to hold emergency consultations on Syria at Russia's request. Israeli officials have stated that these strikes are aimed at preventing weapons from falling into the hands of extremists.

The situation remains fluid, with international reactions pouring in. Japan has expressed grave concern over the humanitarian conditions in Syria, while the U.S. Central Command has launched its own airstrikes targeting Islamic State group camps in central Syria.

As the region grapples with these developments, the international community watches closely, hoping for a peaceful resolution to the ongoing conflict.



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