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Canada's New Grocery Benefit Starts July 3 — How Much Will You Get?

  If you've been receiving the GST/HST credit, something is changing on July 3, 2026 — and it's actually good news. The federal government is replacing the old credit with a new program called the Canada Groceries and Essentials Benefit (CGEB) , and it comes with payments that are 25% larger. More than 12 million Canadians qualify. No application is required. Here's everything you need to know before the first payment lands. What Is the CGEB? The Canada Groceries and Essentials Benefit is the federal government's replacement for the GST/HST credit, which has been around since 1991. Prime Minister Mark Carney announced the new benefit on January 26, 2026, and it received Royal Assent on February 12 under Bill C-19. The legislation commits $11.7 billion in additional support to Canadians over six years — $3.1 billion immediately through the one-time June top-up, and $8.6 billion over five years through higher quarterly payments. The name change is deliberate — it signal...
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S&P/TSX Composite and U.S. Stock Markets Rally After Rate Decision



On Wednesday, the S&P/TSX composite index closed up 185.13 points at 22,045.71, following a boost from the Federal Reserve’s latest interest rate announcement. Simultaneously, U.S. stock markets also surged, with the Dow Jones industrial average rising 401.37 points to 39,512.13 and the S&P 500 index gaining 46.11 points to reach 5,224.62. The Nasdaq composite also joined the rally, climbing 202.62 points to 16,369.41.

The Federal Reserve’s decision to hold its key rate steady for the fifth consecutive meeting was widely expected. However, the central bank’s projection of three rate cuts in 2024 surprised some investors, given the strong inflation data earlier this year. Fed Chair Jerome Powell emphasized that while inflation has cooled from its peak, uncertainties remain, and the path forward is uncertain.

For investors, the Fed’s announcement brought positive news. Mike Archibald, Vice President and Portfolio Manager at AGF Investments Inc., highlighted that the market had anticipated a reduction to two cuts in 2024. The fact that the central bank maintained its projection of three cuts was well-received. Although the Fed lowered its expectations for cuts in 2025, it upgraded its growth outlook, signaling confidence in the economy.

Looking ahead, Archibald believes that rate cuts are still likely to come mid-year. In Canada, the situation may differ slightly, as the economy has not shown the same persistent strength. The Bank of Canada, which also held its key rate steady, expects to start cutting rates this year but remains divided on timing.

As the markets responded favorably to the Fed’s decision, investors are cautiously optimistic about better times ahead. Equities in risk-on sectors, such as discretionary, communications, services, industrials, and financials, outperformed. The Canadian dollar traded at 73.75 cents US, and commodities experienced mixed movements.

In summary, the S&P/TSX composite’s upward trajectory, coupled with gains in U.S. stock markets, reflects investor confidence in the economic recovery. As the year unfolds, market participants will closely monitor central bank actions and economic indicators to navigate the evolving landscape.

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