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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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Temporary GST Breaks: What's Covered and What's Not


Starting December 14, 2024, and lasting until February 15, 2025, the Canadian government has introduced temporary GST/HST breaks on a variety of essential items. This tax relief aims to provide financial relief to Canadians during the holiday season.


What's Included:

  •  Food and Beverages: All groceries, restaurant meals, and drinks will be exempt from GST/HST.
  • Children's Items: Clothing, footwear, diapers, car seats, toys, and jigsaw puzzles for all ages will also benefit from the tax break.
  • Books and Newspapers:  Printed books and newspapers are included in the relief.
  • Holiday Decorations: Christmas trees and similar decorative items are also covered.
  • Video Game Consoles and Games: Physical video game consoles, controllers, and games qualify for the tax break.


What's Not Included:

  • Luxury Items: High-end electronics, jewelry, and luxury clothing are not covered by the GST/HST break.
  • Alcoholic Beverages: While regular beverages are included, alcoholic drinks are excluded from the tax relief.
  • Non-Essential Toys and Games: Items not specifically listed under children's toys or educational games do not qualify.
  • Sports Equipment: Items used exclusively for sports or recreational activities are not included.


This temporary tax break is designed to make essential goods more affordable and provide some financial relief during the holiday season. Make sure to take advantage of these savings while they last!





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