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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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Clash Over Campus Control: Harvard Challenges Trump Administration in Court

 

Harvard University is set to face off against the Trump administration in federal court over the cancellation of approximately $2.6 billion in research funding. The hearing, held in Boston before U.S. District Judge Allison Burroughs, marks a pivotal moment in a broader battle over academic autonomy and federal oversight.

The Trump administration froze the funding earlier this year, citing Harvard’s alleged failure to adequately address antisemitism on campus following the October 2023 Hamas attacks on Israel. Officials demanded sweeping reforms, including changes to governance, hiring, admissions, and the elimination of diversity, equity, and inclusion (DEI) programs.

Harvard rejected these demands, arguing that the government’s actions amount to unlawful retaliation and violate the First Amendment. The university claims the funding cuts jeopardize hundreds of research projects, including work on cancer treatment, neurodegenerative diseases, and national security initiatives.

The administration maintains that federal grants come with conditions and that institutions failing to meet them are subject to cancellation. It also argues that the court lacks jurisdiction and that the case should be heard in the Federal Court of Claims.

While negotiations between Harvard and the White House had shown signs of progress, they ultimately collapsed. The outcome of this legal showdown could reshape the relationship between elite universities and federal funding—and set a precedent for how far government influence can reach into academic institutions.

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