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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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Elon Musk's Mission at DOGE: White House Confirms Extended Role

The White House has confirmed that Elon Musk will remain in his role as a special government employee until he completes his ambitious mission with the Department of Government Efficiency (DOGE). Tasked by President Donald Trump, Musk's objective is to slash government spending and streamline the federal workforce.

Despite recent media speculation about his potential departure, White House Press Secretary Karoline Leavitt clarified that Musk's tenure would continue until his work at DOGE is finished. Musk has already made significant strides, with DOGE reporting an estimated $140 billion in taxpayer savings through workforce reductions, asset sales, and contract cancellations. However, this figure is still far from Musk's ultimate goal of cutting $1 trillion in federal spending.

Musk's efforts have not been without controversy. His approach to mass layoffs and government restructuring has sparked protests, lawsuits, and public backlash. Nevertheless, the billionaire remains confident in achieving his objectives, stating in a recent interview that he expects to accomplish most of his goals within his 130-day mandate.

As Musk's work progresses, the nation watches closely, with both supporters and critics weighing in on the impact of his reforms. Whether he will extend his role beyond the current mandate remains to be seen, but for now, Musk is firmly committed to completing his mission at DOGE.

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