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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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Devastating Storms Leave U.S. South and Midwest Reeling


A relentless storm system has wreaked havoc across the U.S. South and Midwest, leaving communities grappling with rising rivers and widespread destruction. Torrential rains and powerful tornadoes have claimed at least 18 lives, with Tennessee bearing the brunt of the fatalities. 

Floodwaters have inundated homes, roads, and critical infrastructure, prompting evacuations and emergency responses in states like Kentucky, Arkansas, and Missouri. The National Weather Service has issued warnings for major flood stages in multiple locations, forecasting continued threats as waterways swell. 

Amid the chaos, utilities have scrambled to shut off power and gas, while cities deploy sandbags to protect homes and businesses. The storms have also disrupted air travel, with hundreds of flights canceled or delayed. 

As communities brace for more rainfall and potential tornadoes, the resilience of those affected shines through. Emergency crews and volunteers are working tirelessly to provide aid and support to those in need. 

The devastation serves as a stark reminder of the power of nature and the importance of preparedness in the face of extreme weather events.

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