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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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South Korean Parliament Impeaches President Yoon Over Martial Law Decree

 

In a historic move, South Korea's parliament voted to impeach President Yoon Suk Yeol following his controversial martial law decree on December 3rd. The National Assembly passed the motion with a significant majority, 204-85. This decision came after Yoon's short-lived martial law order, which lasted only six hours before being unanimously overturned by parliament.

The impeachment motion was driven by allegations of rebellion and a violation of the constitution, as Yoon's decree was seen as an attempt to undermine democratic processes. Prime Minister Han Duck-soo will assume presidential duties while the Constitutional Court reviews the impeachment, a process that could take up to 180 days.

The impeachment has sparked widespread public reaction, with jubilant crowds celebrating outside the National Assembly. President Yoon, in a statement, vowed to continue serving the country despite the temporary suspension of his powers.


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