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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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Trump's 'Liberation Day': A New Chapter in Global Trade Tensions

The global economy braces for impact as former President Donald Trump prepares to unveil his much-anticipated "Liberation Day" tariffs. This announcement, set for April 2, promises to reshape international trade dynamics with sweeping measures aimed at addressing what Trump describes as "decades of unfair trade practices." 

While the specifics remain unclear, the tariffs are expected to target countries with significant trade imbalances with the United States. Critics warn that this move could escalate into a full-blown trade war, with nations like China, Canada, and the European Union likely to retaliate. Economists predict that these measures could disrupt supply chains, increase consumer prices, and create uncertainty for businesses worldwide.

Trump's administration argues that these tariffs are necessary to restore American manufacturing and economic sovereignty. However, the lack of clarity surrounding the policy has left markets jittery, with businesses and governments alike scrambling to prepare for the potential fallout.

As the world awaits the official announcement, one thing is certain: "Liberation Day" marks a pivotal moment in the ongoing debate over globalization and economic nationalism. Whether it will lead to liberation or further entanglement in trade disputes remains to be seen.

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