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Bank of Canada Rate Decision Tomorrow: What Every Canadian Needs to Know Before June 10

Current Rate 2.25% Held since Oct 2025 Expected Decision HOLD 34/34 economists Announcement 9:45 AM Wed, June 10 (ET) Prime Rate 4.45% Most major lenders On Wednesday morning, June 10, the Bank of Canada will announce its interest rate decision at 9:45 AM ET — and for Canadians with a mortgage, a variable-rate loan, or a renewal coming up, the decision is just two days away. Governor Tiff Macklem will follow with a press conference at 10:30 AM. The short answer: expect no change. But the full picture is considerably more complicated — and the Bank's tone tomorrow could signal whether rate hikes are quietly creeping back onto the table. The Consensus: A Hold, Full Stop The economist community is remarkably united heading into this decision. In a Reuters poll conducted June 2–5, all 34 economists surveyed predicted the Bank would leave its overnight rate at 2.25%. More than 80% said it would stay there for the rest of 2026. "Under normal circumstances, today's sagging econom...
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Ottawa Expands Automatic Tax Filing to Simplify Tax Returns


 The federal government is taking significant steps to modernize the tax filing process for Canadians. In a recent fall economic statement, Ottawa announced plans to expand automatic tax filing services, aiming to make it easier for Canadians, especially those with simple tax situations, to file their annual returns.

The initiative, which builds on a national pilot program launched in 2023, will allow the Canada Revenue Agency (CRA) to automatically file tax returns on behalf of eligible lower-income Canadians starting as early as the 2025 tax year. The program has already shown promising results, with over two million eligible Canadians participating in the pilot and receiving billions in benefits and credits.

The expansion will also explore options to make free online tax software more accessible, ensuring that more Canadians can benefit from simplified tax filing. This move is part of Ottawa's broader efforts to reduce the complexity and cost of tax filing services, making them more user-friendly and efficient.

With these changes, the government hopes to increase tax compliance and ensure that more Canadians receive the benefits and credits they are entitled to. The CRA's SimpleFile service, which allows tax returns to be filed in as little as 10 minutes, will play a crucial role in this initiative.

As Ottawa continues to push for a more streamlined tax filing process, Canadians can look forward to a simpler and more efficient way to manage their taxes in the coming years.




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