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5 Things Every Canadian Should Know About Their Money Today

  Published on: May 1, 2026 Site: moneysavings.ca/canadian-money-brief Whether you're watching your mortgage rate, filing your taxes, or wondering what Ottawa's big spending announcements mean for your wallet — here's your fast briefing for May 1, 2026. 1. The Bank of Canada Is Holding Steady at 2.25% On April 29, the Bank of Canada held its overnight policy rate at 2.25% — exactly where markets expected it to land. Governor Tiff Macklem cited a volatile mix of ongoing U.S. trade uncertainty and rising energy prices tied to the conflict in the Middle East as reasons to stay the course rather than cut or hike. The next rate decision is scheduled for June 10, 2026 . What it means for you: Variable-rate mortgage and HELOC holders get a reprieve from any further hikes for now. Don't expect a cut anytime soon either — the Bank signalled it's watching inflation data closely before moving in either direction. 2. Tax Deadline Was Yesterday — Here's What to...
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Trump's Trade Diplomacy: A Step Toward Resolution with the EU

In a significant move, former U.S. President Donald Trump has expressed optimism about resolving trade disputes with the European Union (EU). This comes amidst ongoing tensions over tariffs and trade barriers that have strained transatlantic relations. Trump's announcement of a temporary 90-day pause on reciprocal tariffs exceeding 10% signals a willingness to engage in constructive dialogue.

The EU has reciprocated by suspending its planned counter-tariffs for the same duration, creating a window for negotiations. European Commission President Ursula von der Leyen emphasized the importance of this pause, describing it as an opportunity to pursue a "frictionless" trading relationship. Both sides aim to address key issues, including tariffs on steel and aluminum, agricultural subsidies, and intellectual property rights.

This diplomatic effort could pave the way for a more collaborative relationship between the U.S. and the EU, potentially setting a precedent for future trade agreements worldwide. While challenges remain, the temporary halt in tariffs offers a glimmer of hope for resolving long-standing disputes and fostering economic cooperation.

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