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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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TSX Dips as U.S. Producer Prices Shake Confidence in Rate Cut Prospects

 


Toronto Stock Exchange Slides Amid Inflation Surprise

Canada’s main stock index, the S&P/TSX Composite, slipped on Thursday as hotter-than-expected U.S. producer inflation data cast doubt on the likelihood of a Federal Reserve rate cut in September. The index fell 0.34% to 27,899.62, retreating from its record close the previous day.

Key Drivers Behind the Decline

  • U.S. Producer Price Index (PPI): July’s PPI rose more than anticipated, driven by higher costs in services and goods. This unexpected surge suggests inflationary pressures may persist, complicating the Fed’s path to easing monetary policy.
  • Sector Losses: Industrial and technology stocks led the decline on the TSX, each dropping over 1%. Energy stocks also slipped 0.5%, while healthcare rebounded with a 1.6% gain.
  • Wall Street Reaction: The S&P 500 dipped 0.1% as investors recalibrated expectations for a rate cut. Despite the inflation surprise, traders still priced in a 92.5% chance of a 25-basis-point cut next month.

Market Sentiment Chris Zaccarelli of Northlight Asset Management noted, “Given how benign the CPI numbers were on Tuesday, this is a most unwelcome surprise... likely to unwind some of the optimism of a ‘guaranteed’ rate cut next month.”

Looking Ahead Investors are now eyeing the upcoming Jackson Hole symposium and further economic data releases for clues on the Fed’s next move. The TSX’s recent rally, fueled by hopes of 

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