Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
Wall Street recovered some of its losses on Thursday, a day after the Federal Reserve signaled that it is not planning to cut interest rates anytime soon.
The S&P 500 rose 0.4%, while the Dow Jones Industrial Average edged up 0.1%, following the worst single-day downturn since September on Wednesday.
The Fed left its main interest rate unchanged and said it does not expect to lower it “until it has gained greater confidence that inflation is moving sustainably toward” its 2% target.
Fed Chair Jerome Powell said the central bank needs more data to confirm that inflation is easing, despite recent signs of slowing wage growth and consumer spending.
“We’re not declaring victory at all,” Powell said. "We have confidence. It has been increasing, but we want to get greater confidence."
Investors were hoping for a more dovish tone from the Fed, as they worry about the impact of the coronavirus outbreak, trade tensions, and geopolitical risks on the global economy.
Some sectors, such as technology and health care, bounced back on Thursday, while others, such as energy and financials, remained under pressure.
Shares of Align Technology, the maker of Invisalign teeth straighteners, surged more than 12% after beating analysts’ expectations for sales and profit.
More economic data is expected on Friday, with the release of the monthly jobs report for January.
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