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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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US Employers Add 353,000 Jobs in January, Defying High Interest Rates and Inflation Pressures

 

The US economy has shown remarkable resilience in the face of the highest interest rates in two decades, with employers adding 353,000 jobs in January, according to a report by the Labor Department. This figure surpassed the 333,000 jobs added in December, which was itself revised upwards. The unemployment rate remained at 3.7%, just off a half-century low.

This latest report is a further sign of the economy’s continuing ability to shrug off the impact of high interest rates. It also highlights employers’ willingness to keep hiring to meet steady consumer spending. The gains far exceeded expectations and come as the intensifying presidential campaign is pivoting in no small part on views of President Joe Biden’s economic stewardship.

The Federal Reserve has taken note of the economy’s durability, with Chair Jerome Powell saying “the economy is performing well, the labor market remains strong”. The Fed made clear that while it’s nearing a long-awaited shift toward cutting interest rates, it’s in no hurry to do so.

The report is a welcome boost for the US economy, which has been facing headwinds from the pandemic and inflation. The latest gains showcase the strength of the US economy and its ability to weather the storm of high interest rates and inflation pressures.


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