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5 Things to Know Today — June 11, 2026

  The Bank of Canada confirmed its fifth straight rate hold yesterday, oil slipped back toward $89 a barrel after fresh U.S. strikes on Iran, and Canada Post workers officially have a new contract. Here is what every Canadian needs to know heading into Wednesday. 1 of 5 — Interest Rates Bank of Canada holds at 2.25% — for the fifth time in a row The Bank of Canada kept its benchmark interest rate unchanged at 2.25% on June 10, marking five consecutive holds since late 2025. Governor Tiff Macklem said the central bank is trying to balance two opposing forces: inflation pushed higher by elevated energy costs from the Middle East war, and an economy that has barely grown in recent quarters. "Economic weakness combined with rising inflation is a dilemma for monetary policy," Macklem told reporters, adding that holding the rate "balances those risks" for now. What it means for you: Variable-rate mortgage holders and borrowers with lines of credit get another month of pa...
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Canada Kicks Off Tax Filing Season


Today marks the official start of the tax filing season in Canada. As of February 24, Canadians can begin submitting their income tax and benefit returns online. This year, the Canada Revenue Agency (CRA) has introduced several updates to its digital services to make the process smoother and more efficient for taxpayers.

One of the key changes for the 2025 tax season is the increase in federal income tax brackets by 2.7% to account for inflation. The new tax rates are as follows:

  • - 15% for earnings up to $57,375
  • - 20.5% for earnings between $57,375.01 and $114,750
  • - 26% for earnings between $114,750.01 and $177,882
  • - 29% for earnings between $177,882.01 and $253,414
  • - 33% for earnings above $253,414

Additionally, the contribution limit for the Registered Retirement Savings Plan (RRSP) has increased to $32,490 for the 2025 tax year, up from $31,560 the previous year. The maximum pensionable earnings and contributions for the Canada Pension Plan (CPP) have also been adjusted, with the Year’s Maximum Pensionable Earnings (YMPE) set at $71,300.

The CRA encourages taxpayers to file their returns early to avoid any last-minute stress and to ensure they receive any refunds or benefit payments they may be eligible for. The deadline for most individuals to file and pay any taxes owed is April 30, 2025. Self-employed Canadians have until June 16, 2025, to file their tax returns, but any money owed should be paid by April 30 to avoid interest charges.

For more information on the 2025 tax filing season and to access helpful resources, visit the CRA's official website.



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