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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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Trump Delays Tariffs on Canada and Other Countries


In a surprising move, U.S. President-elect Donald Trump has decided not to impose his promised tariffs on Canada, Mexico, and China immediately upon taking office. According to multiple reports, Trump will instead direct federal agencies to investigate and address persistent trade deficits and unfair trade practices by other nations.

Trump had previously pledged tariffs of 25% on Canadian goods, 10% on global imports, and 60% on Chinese goods. However, his administration has opted for a more cautious approach, giving Canada and other countries a temporary reprieve. The decision comes as a relief to Canadian officials, who had been preparing for potential retaliatory tariffs.

The memo, which will be issued on Trump's first day in office, will single out China, Canada, and Mexico for scrutiny but will not announce new tariffs. Instead, it will direct agencies to assess trade relationships and compliance with existing agreements, such as the US-Mexico-Canada Agreement (USMCA).

Canadian Finance Minister Dominic LeBlanc has stated that Canada is prepared to impose retaliatory tariffs if the U.S. moves ahead with trade actions in the future. For now, the delay provides a moment of relief for Canadian businesses and officials as they brace for potential future trade challenges.

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