From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
The Canadian Dental Care Plan (CDCP) aims to provide essential dental coverage to those in need. To be eligible for this program, you must meet the following criteria:
Canadian Residency: You must be a Canadian resident for tax purposes.
Adjusted Family Net Income: Your adjusted family net income should be less than $90,000. This calculation considers various factors, including income reported on tax returns and any universal child care benefit or registered disability savings plan income received.
Filed Tax Return: You must have filed your tax return in the previous year.
No Access to Dental Insurance: To qualify, you must not have access to dental insurance. This includes coverage through employers, family members, pensions, professional or student organizations, or group plans from insurance companies. Even if you choose to opt out of available benefits, you are still considered to have access to dental insurance.
If you already have dental coverage through provincial, territorial, or federal government social programs, you can still qualify for the CDCP. In such cases, your coverage will be coordinated to avoid duplication or gaps in care.
Remember that providing false information on your application may result in removal from the plan, and ineligible family members may need to repay the full cost of care received through the CDCP.
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