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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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Trudeau Announces High-Speed Rail Line Between Quebec City and Toronto

 

In a landmark announcement, Prime Minister Justin Trudeau revealed plans for a high-speed rail line connecting Quebec City and Toronto. The project, which is set to be the largest infrastructure undertaking in Canadian history, aims to revolutionize travel between these major cities.

The selected consortium, Cadence, will co-design, build, finance, operate, and maintain the high-speed rail line. The train is expected to travel at speeds of up to 300 kilometers per hour, significantly reducing travel time between Montreal and Toronto to just three hours.

The rail line will feature stops in key cities including Trois-Rivières, Laval, Ottawa, and Peterborough, enhancing connectivity across the region. The project is anticipated to boost economic growth, create thousands of jobs, and reduce emissions

The design phase is expected to take four to five years, with construction commencing thereafter. While the project has garnered significant support, its future will depend on continued funding and political backing.

This high-speed rail line promises to be a game-changer for Canadians, offering a faster, more efficient, and environmentally friendly mode of transportation.

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