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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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Trade Tensions Escalate: China and Canada Strike Back at U.S. Tariffs


In a dramatic escalation of global trade tensions, China and Canada have swiftly retaliated against the sweeping tariffs imposed by former U.S. President Donald Trump. The U.S. recently enacted a 25% tariff on most imports from Canada and Mexico, alongside a 10% increase on Chinese goods, doubling the existing duties to 20%.

China responded by imposing tariffs of up to 15% on key U.S. agricultural products, including chicken, wheat, and corn, while Canada announced immediate tariffs of 25% on $20.7 billion worth of American goods, with plans to expand these measures further. Canadian Prime Minister Justin Trudeau condemned the U.S. actions, calling them unjustified and a violation of trade agreements.

These retaliatory measures are expected to disrupt supply chains and increase costs for businesses and consumers, further straining the already fragile global economy. The trade war shows no signs of abating, with all sides digging in for what could be a prolonged economic standoff.

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