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5 Things Every Canadian Should Know About Their Money Today

                                          Thursday, May 7, 2026 · moneysavings.ca/canadian-money-brief Good morning, Canada. Here are the five money stories shaping your financial decisions right now. 1. Ottawa Highlights Spring Economic Priorities Finance Minister François‑Philippe Champagne continues a two‑day Toronto tour outlining the government’s push for a more resilient, independent Canadian economy , with discussions focused on financial crime, payment modernization, and geopolitical risks .  2. Inflation Pressures Persist for Households Recent economic commentary warns Canadians to expect higher grocery, fuel, and travel costs , adding an estimated $400–$600 to the annual food budget for a family of four. Rising shipping and transport costs remain key drivers.  3. Housing Market Stagnates in Major Cities Vancouver and Toronto continue to s...
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Ontario Braces for Freezing Rain: Power Outages and Travel Disruptions Expected

A freezing rain warning has been issued for much of Ontario, including Toronto, as a potent storm is set to hit the region this weekend. Environment Canada predicts the storm will bring varying precipitation, including rain, snow, and freezing rain, depending on temperatures. Ice accumulation of up to 10 millimeters is expected in Toronto, while areas like Parry Sound and Kingston could see upwards of 25 millimeters.

The freezing rain is anticipated to begin Friday evening and persist through Sunday morning. Higher terrain areas may experience prolonged freezing rain due to cooler temperatures. The storm poses risks such as power outages, slippery roads, and broken tree branches. Residents are advised to prepare for potential disruptions and avoid non-essential travel.



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