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5 Things Every Canadian Should Know About Their Money Today

From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...
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Canada’s Inflation Rate Eases to 2.7% in June

Canada’s annual inflation rate cooled to 2.7% in June, according to Statistics Canada. This figure came in slightly lower than financial industry consensus expectations. Here are the key points:

  • Monthly Basis: The Consumer Price Index (CPI) decreased by 0.1% in June.
  • Grocery Prices: While overall inflation eased, grocery prices continued to rise.
  • Interest Rate Implications: The Bank of Canada will closely scrutinize these figures as it prepares for its next interest rate decision on July 24.

This decline in inflation follows a period of higher rates during the pandemic. The current rate is nearing the Federal Reserve’s target, signaling a potential stabilization.


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