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Canada Is In a Recession — What It Means for Your Money

It's official. Canada has entered a technical recession for the first time since 2020 — and it happened faster than almost any economist predicted. Statistics Canada confirmed Friday that the economy shrank for a second consecutive quarter, with Q1 2026 posting a 0.1% annualized contraction, following a 1.0% drop in Q4 2025. Forecasters had been expecting 1.5% growth . The surprise is significant. So what does this actually mean for everyday Canadians? Your job, your mortgage, your savings, your debt — we break it all down. −0.1% Q1 2026 GDP (annualized) −1.0% Q4 2025 GDP (revised down) 2.25% Bank of Canada overnight rate 2.8% Canada inflation rate (April) "Most businesses are basically in a holding pattern, treading water, hoping for brighter days." — Dan Kelly, President, Canadian Federation of Independent Business 📉 Wait — Is This Really a Recession? The term "technical recession" means two consecutive quarters of negative GDP growth on an annualized basi...
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Don Davies Appointed Interim Leader of NDP Amid Party Transition

 

In a significant shift for the New Democratic Party (NDP), British Columbia MP Don Davies has been appointed as the interim leader following the resignation of Jagmeet Singh. The decision was made by the party’s federal council, which convened after the NDP’s disappointing performance in the recent federal election.

Davies, who previously served as the party’s health critic, played a key role in negotiating dental care and pharmacare legislation with the Liberal government. His leadership comes at a critical time, as the NDP faces challenges after losing official party status, with only seven seats remaining in the House of Commons.

The party has yet to determine the rules and timing for a leadership contest to select a permanent leader. In the meantime, Davies is expected to focus on rebuilding support, strengthening party infrastructure, and advocating for core NDP policies, including public health care, affordable housing, and fair taxation.

With the NDP at a crossroads, Davies’ leadership will be instrumental in shaping the party’s future direction and strategy. His experience and commitment to progressive policies may help the party regain momentum in the coming months.


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