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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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Tariff Turmoil: Markets React as Trump Targets Key Trading Partners

                                              

U.S. stock index futures took a sharp hit on Monday after President Trump announced steep tariffs on imports from Canada, Mexico, and China. The new measures include a 25% duty on goods from Canada and Mexico and a 10% levy on Chinese products, sparking fears of an escalating trade war and its potential to disrupt global supply chains.

Dow futures fell by more than 500 points early in the session, while both S&P 500 and Nasdaq futures dipped by around 1.5% to 2%. The sudden drop reflects mounting concerns among investors that the tariffs could trigger retaliatory measures from the affected nations, further intensifying market volatility and potentially slowing economic growth.

Analysts warn that if the trade conflict intensifies, the resulting uncertainty may push inflation higher and force the Federal Reserve to reconsider its policy stance. With key economic data and quarterly earnings reports on the horizon, traders and investors are closely monitoring the situation for further clues about the future direction of the markets.

Globally, markets from Europe to Asia have also shown signs of strain, underscoring the broad impact of the U.S. tariff policy. As nations weigh their responses, the coming days will be critical in determining whether these moves mark the start of a broader trade confrontation or a temporary market correction.


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