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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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Ontario Expands Teacher Training to Address Shortage

Ontario is taking a significant step to combat the ongoing teacher shortage by adding 2,600 new spaces to teachers' colleges across the province. The initiative, backed by a $55.8 million investment over two years, aims to train new educators by 2027.

Colleges and Universities Minister Nolan Quinn emphasized that the funding will support all institutions offering a Bachelor of Education program, with spaces becoming available as early as September. The expansion prioritizes northern and rural areas, technological education, and French-language instruction, which have been identified as areas of heightened need.

While teachers' unions welcome the move, they stress that recruitment alone will not solve the problem. Retention remains a key issue, with many qualified teachers opting out of the profession due to challenging working conditions, overcrowded classrooms, and deteriorating infrastructure. The Ontario Teachers’ Federation estimates that 48,000 certified teachers are not currently working in the province’s education system.

The government is also exploring shortening the length of teachers' college, which was extended to two years a decade ago when Ontario faced a teacher surplus. As the province braces for a worsening shortage starting in 2027, officials continue to seek solutions to ensure a stable and well-supported teaching workforce.

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