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5 Things to Know Today: Your Canadian Money Brief

  Wednesday, April 29, 2026 | moneysavings.ca/canadian-money-brief 1. The Bank of Canada Is Watching — And So Should You Markets are closely parsing every signal from the Bank of Canada ahead of its next rate announcement. With inflation holding stubbornly above target in key categories like shelter and groceries, economists are split on whether another cut is on the table or a longer hold is in store. If you're carrying variable-rate debt or sitting on a GIC renewal, now is the time to model both scenarios. What to do: Don't lock into a long-term rate product until after the next announcement. A few days of patience could save you thousands. 2. Spring Housing Market: More Listings, Less Panic After years of near-empty inventory, more Canadian sellers are finally listing — particularly in the Greater Toronto Area and Greater Vancouver. The uptick in supply is giving buyers breathing room they haven't seen since pre-pandemic times. That said, prices haven't mean...
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Senate Approves $9 Billion in Cuts, Marking Fiscal Win for Trump


In a narrow 51–48 vote, the U.S. Senate passed a sweeping $9 billion rescissions package early Thursday morning, delivering a significant legislative victory to President Donald Trump. The bill slashes funding for foreign aid programs and eliminates all $1.1 billion earmarked for the Corporation for Public Broadcasting over the next two years.

The cuts target global health initiatives, disaster relief, and development assistance, though a $400 million reduction to the PEPFAR HIV/AIDS program was removed following bipartisan pushback. Senators Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine) broke ranks with their party, citing concerns over the impact on rural broadcasting and global disease prevention efforts.

Senate Majority Leader John Thune hailed the move as a “small but important step toward fiscal sanity”, while Democrats criticized it as a partisan maneuver that undermines Congress’s constitutional role in federal spending. The bill now returns to the House for final approval before Friday’s deadline, after which the rescissions would expire if not enacted.

The vote underscores Trump’s growing influence over Congress in his second term, with Republicans largely aligning behind his agenda despite internal dissent and warnings of long-term consequences for America’s global standing and domestic emergency communications.

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