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Canada Is In a Recession — What It Means for Your Money

It's official. Canada has entered a technical recession for the first time since 2020 — and it happened faster than almost any economist predicted. Statistics Canada confirmed Friday that the economy shrank for a second consecutive quarter, with Q1 2026 posting a 0.1% annualized contraction, following a 1.0% drop in Q4 2025. Forecasters had been expecting 1.5% growth . The surprise is significant. So what does this actually mean for everyday Canadians? Your job, your mortgage, your savings, your debt — we break it all down. −0.1% Q1 2026 GDP (annualized) −1.0% Q4 2025 GDP (revised down) 2.25% Bank of Canada overnight rate 2.8% Canada inflation rate (April) "Most businesses are basically in a holding pattern, treading water, hoping for brighter days." — Dan Kelly, President, Canadian Federation of Independent Business 📉 Wait — Is This Really a Recession? The term "technical recession" means two consecutive quarters of negative GDP growth on an annualized basi...
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Your daily horoscope: February 2, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Be careful what you choose to believe over the coming year because if your thoughts start moving in strange directions they could get lost down a rabbit hole you find it hard to climb out of again. An open mind is a very good thing … within limits.

ARIES (March 21 - April 20):

There is no point getting angry or upset about things you cannot change, so accept that something is going to happen and then adapt to it as best you can. Save your emotional energy to channel into areas where you can make a difference.

TAURUS (April 21 - May 21):

Mars in your fellow Earth sign of Capricorn urges you to be bold and follow your dream, even if you cannot see how it will ever come true. Believing in yourself and what you are doing is half the battle. The universe will do the rest.

GEMINI (May 22 - June 21):

You seem to be in two minds about whether to take a new relationship seriously or whether to treat it as a bit of fun and not expect too much from it. What occurs today is likely to suggest that it could be more than just another fling.

CANCER (June 22 - July 23):

If your sixth sense tells you to be cautious today you must take it seriously, because the planets warn if you make a mistake, even one of a quite minor nature, the consequences won’t be to your liking. Leave the risky stuff to other people.

LEO (July 24 - Aug. 23):

You will have to call on all your powers of self-control over the next 24 hours as someone you work or do business with rubs you up the wrong way. The planets indicate that hitting back at them is not worth the time or the effort. Walk away instead.

VIRGO (Aug. 24 - Sept. 23):

Push ahead with what you are working on even if it is taking up a lot more time and energy than you expected. Today’s Mercury-Neptune link will help you come up with new ways to get from where you are now to where you most want to be.

LIBRA (Sept. 24 - Oct. 23):

If a friend says something you find a bit insulting today don’t make an issue of it. Most likely they don’t mean to be cruel, they are just trying to put into words what they feel to be true. They may even have something worthwhile to say.

SCORPIO (Oct. 24 - Nov. 22):

If you get the chance to speak up today you must take it, even if you know that some people – maybe most people – won’t be delighted by the conclusions you have reached. You know from personal experience that the truth can be hard to take.

SAGITTARIUS (Nov. 23 - Dec. 21):

If you need some time and space for yourself today and over the weekend then you must take it, because others are not going to back away by choice. Find a place where the noisy world cannot intrude and get your thoughts in order.

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