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Canada's GDP Report Is Out Today — Here's What It Means for Your Wallet

Canada GDP Report June 2026 — MoneySavings.ca This morning, Statistics Canada releases its GDP by industry data for April 2026 — along with a flash estimate for May. The timing couldn't be more significant: Canada has technically entered a recession, and the Bank of Canada's next rate decision is just two weeks away on July 15 . Here's what today's report means for your mortgage, your job, and your savings — in plain English. What Is GDP and Why Does Today's Number Matter? GDP — Gross Domestic Product — is the broadest scorecard for how well Canada's economy is performing. It measures the total value of everything the country produces: goods, services, output across every industry. When GDP grows, businesses expand, hiring picks up, and incomes tend to rise. When it shrinks, the opposite happens. Today's release covers April 2026 data, plus Statistics Canada's advance estimate for May. The number that comes out this morning will either confirm that Cana...
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Ontario’s “One Fare” Program Saves Transit Riders $1,600

 

The Ontario government is keeping costs down for public transit riders with the launch of the “One Fare” program, which will save riders an average of $1,600 each year. Beginning February 26, 2024, riders will pay only once as they transfer for free between the TTC and participating transit agencies in the Greater Toronto Area, including GO Transit.

The One Fare program, announced earlier this year, allows passengers to transfer between a number of different transit systems in Ontario but only pay once. Under this program, commuters can transfer between the TTC and GO Transit, as well as regional transit systems like Brampton Transit, Durham Region Transit, MiWay, and York Region Transit.

How Does It Work?

  • When transferring between the TTC and GO Transit, your TTC fare will be free.
  • When you transfer between the TTC and other local transit systems, your second fare will be free.
  • Simply tap your PRESTO card to automatically receive the discount. It’s akin to the free two-hour transfers already in effect on the TTC.
  • Your transfer remains valid for two hours if you start your trip on a local transit system or three hours for trips originating on GO Transit.

Even if you forget your PRESTO card, the One Fare program has got you covered. Passengers can still benefit when paying using credit or debit. For frequent commuters, this program could save an average of $1,600 annually—a welcome change for many Toronto residents.

The introduction of the One Fare program aligns with Metrolinx’s long-term strategy for sustainability and improved public transit service in the province. As Toronto navigates this fare revolution, commuters can breathe a sigh of relief—and perhaps even pocket some extra change for their morning coffee. 

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