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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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U.K. Threatens Palestinian State Recognition Amid Gaza Crisis

                                            British Prime Minister Keir Starmer

U.K. Sets September Deadline for Israel to Act on Gaza Ceasefire

In a bold diplomatic move, British Prime Minister Keir Starmer announced that the United Kingdom will formally recognize a Palestinian state in September unless Israel agrees to a ceasefire and takes concrete steps toward peace in Gaza.

Starmer convened a rare summer Cabinet meeting to address the escalating humanitarian crisis in Gaza. He stated that recognition would be granted before the United Nations General Assembly unless Israel ends hostilities, halts annexation in the West Bank, and recommits to a two-state solution.

The announcement follows mounting international pressure, especially after French President Emmanuel Macron declared France would recognize Palestinian statehood in September. Starmer emphasized that Hamas must also disarm, release hostages, and accept exclusion from Gaza’s future governance.

Israel swiftly condemned the U.K.'s stance, calling it a “reward for Hamas” and warning it could undermine ceasefire negotiations.

This shift marks a significant departure from the U.K.’s long-held position that Palestinian recognition should be part of a negotiated peace. With over 140 countries already recognizing Palestine, Britain and France would become the first major Western powers to do so unilaterally.

The final decision will hinge on developments before the UNGA meeting in September, as Starmer’s government assesses whether Israel and Hamas have made meaningful progress toward peace.


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