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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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Stock Market Stumbles Post-Christmas as Investors Eye Jobs Data

                                        

U.S. stock futures fell Thursday as trading resumed after the Christmas holiday, with Wall Street bracing for the release of weekly jobless claims data. Futures tied to the S&P 500 and Nasdaq declined by 0.3%, while Dow Jones Industrial Average futures dropped 0.4%.

The market's struggle to extend the "Santa Claus rally" saw major indexes like the S&P 500 and Nasdaq nearing record highs after recovering from a Fed-fueled dip last week. Investors are now keenly awaiting the jobless claims report, which has taken on greater significance in the absence of other economic data this week.



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