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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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Canada Expresses Disappointment Over Trump’s 35% Tariff Hike, Carney Responds

 

Canada has voiced strong disappointment following former U.S. President Donald Trump’s announcement of a sweeping 35% tariff increase on Canadian imports. The move, which Trump claims is aimed at protecting American manufacturing, has sparked concern across the border and drawn criticism from Canadian officials.

Mark Carney, Canada’s Deputy Prime Minister and former Bank of England Governor, called the tariff hike “damaging and counterproductive,” warning that it could strain economic ties between the two nations and hurt both economies.

“We are deeply disappointed by this unilateral decision,” Carney said in a statement. “Canada has always been a fair trading partner. These tariffs will not only disrupt supply chains but also raise costs for American consumers and businesses.”

The new tariffs target a wide range of Canadian goods, including steel, aluminum, lumber, and agricultural products. Canadian officials are reportedly considering retaliatory measures while urging Washington to reconsider the policy shift.

Trade experts caution that escalating tariffs could reignite tensions reminiscent of the 2018 trade disputes during Trump’s first term, potentially destabilizing North American markets.

As of now, Canadian exporters are bracing for the impact, while diplomatic channels remain open in hopes of de-escalation.


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