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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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Ontario to Implement 25% Energy Surcharge on U.S. Amid Trade Tensions


Ontario Premier Doug Ford has announced that the province will impose a 25% surcharge on electricity exports to the United States starting Monday. This move comes as a response to U.S. President Donald Trump's recent tariffs on Canadian goods, despite a 30-day pause on tariffs for certain sectors.

The surcharge will affect electricity supplied to three U.S. states—New York, Michigan, and Minnesota—impacting approximately 1.5 million homes and businesses. Premier Ford emphasized that this decision was not taken lightly but is necessary to counteract the economic strain caused by the U.S. tariffs. He also hinted at the possibility of further measures, including restricting electricity exports entirely if the tariffs persist.

The trade dispute has escalated tensions between the two nations, with Canada also implementing retaliatory tariffs on American products. Both Ford and Prime Minister Justin Trudeau have expressed their commitment to defending Canadian interests while urging the U.S. to reconsider its stance.

The surcharge highlights the growing economic and political challenges in the cross-border relationship, as both sides navigate the complexities of trade and energy policies.

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