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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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Hot Tea, High Stakes: California Man Wins $50 Million Lawsuit Against Starbucks

A California delivery driver, Michael Garcia, has been awarded $50 million in a lawsuit against Starbucks after suffering severe burns from a spilled tea. The incident occurred in February 2020 at a drive-through, where a venti-sized tea fell onto Garcia's lap, causing permanent and life-altering injuries.

Garcia's legal team argued that the scalding-hot tea was not securely placed in a takeout tray by a Starbucks employee, leading to the accident. The Los Angeles County jury sided with Garcia, holding Starbucks accountable for negligence. Garcia underwent multiple medical procedures, including skin grafts, due to the burns.

Starbucks has expressed sympathy for Garcia but plans to appeal the decision, calling the damages excessive. This case echoes past high-profile lawsuits involving hot beverages, such as the famous McDonald's coffee case in the 1990s.

The verdict serves as a reminder of the importance of safety standards in handling hot drinks, both for businesses and consumers.

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