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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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Ingersoll Community Grapples with GM Plant Shutdown

 


The General Motors CAMI Assembly Plant in Ingersoll, Ontario, is facing a temporary shutdown, leaving hundreds of workers in uncertainty. The decision, attributed to market adjustments for BrightDrop electric delivery vehicles, has sparked concern among employees and local leaders. Unifor Local 88 CAMI Plant Chairperson Mike Van Boekel described the move as "devastating," highlighting the profound impact on families and the regional economy.

The plant, employing approximately 1,200 workers, will halt operations next month and resume in October at reduced capacity. This shift is expected to result in the indefinite layoff of nearly 500 workers. Ingersoll Mayor Brian Petrie expressed solidarity with affected families, emphasizing the importance of community support during this challenging period.

While GM remains committed to the BrightDrop initiative, the shutdown underscores broader challenges in the automotive industry. The Ingersoll community now faces the ripple effects of this decision, hoping for a swift recovery and a brighter future.

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