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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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Amazon to Close All Quebec Warehouses, Lay Off 1,700 Workers

 

Amazon Canada has announced the closure of all seven of its warehouses in Quebec, resulting in the layoff of approximately 1,700 permanent employees and 250 temporary workers. The decision, which will take effect over the next two months, is part of a strategic move to revert to a third-party delivery model.

The affected facilities include fulfillment centers in Lachine, sorting centers in Coteau-du-Lac and Longueuil, delivery stations in Laval and Lachine, and an AMXL delivery station in Longueuil. Amazon claims that this decision was made to provide more efficient and cost-effective service to customers.

However, the move comes amidst ongoing labor disputes, particularly following the unionization of workers at the Laval warehouse last year. The Confédération des syndicats nationaux (CSN) has condemned the closures, suggesting they are part of an anti-union campaign.

Amazon has assured that it will offer a package including up to 14 weeks' pay and transitional benefits to the impacted employees. Despite this, the CSN plans to challenge the closures, arguing that they violate labor laws.

This decision marks a significant shift in Amazon's operations in Quebec and raises questions about the future of labor relations in the region.




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