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5 Things to Know Today: Canada’s Money Headlines

1. Bank of Canada expected to hold rates amid Iran‑war price pressures The Bank of Canada is preparing its next rate decision, with policymakers weighing inflation risks tied to the Iran conflict. Markets expect a hold as the Bank releases its new monetary policy report this week.  2. Oil & energy costs rise as global uncertainty persists Oil prices climbed more than US$2.50 as geopolitical tensions continue to influence global supply expectations. Canadian producers are also facing scrutiny, including Cenovus’s Newfoundland oilfield extension, which is projected to increase emissions by 21%. 3. Inflation pressures remain elevated for Canadian households Canada’s annual inflation rate rose to 2.4% in March , driven largely by higher gas prices. Rising costs continue to squeeze consumers, with food and essentials remaining stubbornly expensive.  4. Retail sales slow as Canadians pull back New data shows retail sales growth is losing momentum as households tighten bu...
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El Salvador Stands Firm on U.S. Deportation Error

 

El Salvador has refused to return Kilmar Abrego Garcia, a Maryland resident mistakenly deported by the United States. President Nayib Bukele made the announcement during a meeting with U.S. President Donald Trump at the White House, dismissing the idea of sending Garcia back as "preposterous". 

The U.S. Supreme Court recently ruled that the Trump administration must facilitate Garcia’s return, acknowledging that his deportation was an administrative error. However, Bukele has insisted that his government will not comply, citing concerns over Garcia’s alleged gang affiliation—an accusation his lawyers strongly deny. 

The case has sparked debate over U.S. immigration policies and international cooperation. While the U.S. government has admitted the mistake, officials argue that they cannot force El Salvador to release Garcia. Meanwhile, human rights advocates continue to push for his return, emphasizing the lack of credible evidence linking him to criminal activity. 

This diplomatic standoff highlights the complexities of immigration enforcement and the challenges of rectifying wrongful deportations. Whether Garcia will be allowed to return to the U.S. remains uncertain as legal and political tensions escalate.

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