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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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Elon Musk's Pentagon Visit Sparks Controversy Over Leaks

Billionaire entrepreneur Elon Musk recently held a high-profile meeting at the Pentagon, marking an unprecedented step in his involvement with U.S. government affairs. The meeting, which lasted 80 minutes, was with U.S. Defense Secretary Pete Hegseth and focused on innovation and efficiency in government operations. Musk, whose companies like SpaceX and Tesla have significant Defense Department contracts, emphasized his commitment to supporting government initiatives.

However, the visit was overshadowed by controversy. Reports surfaced suggesting Musk might be briefed on sensitive U.S. military plans regarding potential conflicts with China. Both Musk and President Donald Trump vehemently denied these claims, labeling them as "pure propaganda." Musk took to social media to call for the prosecution of Pentagon officials allegedly leaking "maliciously false information" about his visit.

The meeting has raised questions about potential conflicts of interest, given Musk's extensive business ties in China. Critics, including Democratic senators, have demanded transparency regarding the information shared during the meeting. Despite the backlash, Musk expressed his willingness to assist in achieving "good outcomes" for government projects.

The incident highlights the complexities of balancing private sector innovation with national security concerns, especially when high-profile figures like Musk are involved.

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