Skip to main content

Featured

5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...
Post a Comment
Read more

article

Labels

Relief at the Checkout: Canada’s 2025 Grocery Rebate Explained


As grocery prices continue to climb across the country, the Canadian government has stepped in with a lifeline for low- and modest-income households: the Canada Grocery Rebate 2025. This one-time, tax-free payment is designed to help families and individuals manage the rising cost of food and essentials.

Who’s Eligible?

To qualify for the rebate, you must:

  • Be a Canadian resident for tax purposes as of August 2025
  • Have filed your 2024 income tax return
  • Meet income thresholds:
    • Single individuals: Net income below $38,000
    • Families (couples or single parents): Net income below $50,000
  • Be eligible for the GST/HST credit, which is used to determine rebate amounts

How Much Will You Receive?

The rebate amount varies depending on your household size and income. Estimated payouts include:

Household TypeEstimated Rebate Amount
Single adultUp to $234
Married coupleUp to $306
Single parent with 1 childUp to $387
Couple with 2 childrenUp to $628
Senior living aloneUp to $255

Payments are scheduled for August 19, 2025, and will be issued automatically via direct deposit or mailed cheque—no separate application required.

Why It Matters

With inflation squeezing household budgets, this rebate offers timely relief to those most affected. It’s part of a broader federal effort to combat food insecurity and support Canadians through economic uncertainty.


Labels:

Comments

Post a Comment