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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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Tragedy Strikes: Israeli Airstrike on Gaza School Leaves Dozens Dead

 

In a devastating incident, an Israeli airstrike targeted a school in central Gaza that was sheltering displaced Palestinians. The attack resulted in the deaths of more than 30 people, including 23 women and children. The school, run by the United Nations agency for Palestinian refugees (UNRWA), was filled with civilians who had fled previous Israeli offensives and bombardments in northern Gaza.

Witnesses reported that the predawn strike hit the al-Sardi School, where families sought refuge. The victims included an old man and two children, one with a head injury. The Al-Aqsa Martyrs Hospital in nearby Deir al-Balah was overwhelmed by casualties from the attack, with at least 33 dead, including 14 children and nine women. Videos circulating online showed wounded people being treated on the hospital floor, highlighting the strain on Gaza’s medical facilities.

This tragic event underscores the ongoing conflict and the toll it takes on civilians caught in the crossfire. As Israel continues its offensive in the Gaza Strip, innocent lives remain at risk, and the world watches in horror.



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