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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 Take Toll: Canada Loses 33,000 Jobs in March

 

Canada's labour market faced a significant setback in March, shedding 33,000 jobs—the largest monthly decline since January 2022. This drop pushed the unemployment rate up to 6.7%, a slight increase from February's 6.6%.

The job losses were primarily concentrated in full-time positions, with 62,000 roles eliminated. Sectors such as wholesale and retail trade, as well as information, culture, and recreation, bore the brunt of the decline. However, some gains were observed in part-time employment and industries like utilities and personal services.

Economists attribute this downturn to the escalating trade war with the United States, which has introduced tariffs on Canadian exports, including steel and aluminum. These measures have created uncertainty for businesses, leading to layoffs and a cautious approach to hiring.

As Canada navigates these economic headwinds, policymakers and businesses alike face the challenge of mitigating the impact of trade tensions on the labour market. The coming months will be critical in determining the broader implications of these developments on the nation's economy.

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