5 Things Every Canadian Should Know About Their Money Today
Published on: May 1, 2026 Site: moneysavings.ca/canadian-money-brief Whether you're watching your mortgage rate, filing your taxes, or wondering what Ottawa's big spending announcements mean for your wallet — here's your fast briefing for May 1, 2026. 1. The Bank of Canada Is Holding Steady at 2.25% On April 29, the Bank of Canada held its overnight policy rate at 2.25% — exactly where markets expected it to land. Governor Tiff Macklem cited a volatile mix of ongoing U.S. trade uncertainty and rising energy prices tied to the conflict in the Middle East as reasons to stay the course rather than cut or hike. The next rate decision is scheduled for June 10, 2026 . What it means for you: Variable-rate mortgage and HELOC holders get a reprieve from any further hikes for now. Don't expect a cut anytime soon either — the Bank signalled it's watching inflation data closely before moving in either direction. 2. Tax Deadline Was Yesterday — Here's What to...
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