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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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Wall Street Slips as Inflation Pressures and Weak Consumer Sentiment Weigh on Markets

 

US stocks retreated from record highs on Friday as fresh economic data reignited concerns over inflation and consumer confidence. The Dow Jones Industrial Average fell about 0.3%, the S&P 500 lost 0.8%, and the tech-heavy Nasdaq Composite dropped more than 1.2%, led by a 3% slide in Nvidia shares.

A key Federal Reserve–watched gauge, the core Personal Consumption Expenditures (PCE) index, rose 0.3% in July and 2.9% year-over-year — the fastest annual pace since February and well above the Fed’s 2% target. Meanwhile, the University of Michigan’s consumer sentiment index fell to a three-month low, with respondents expecting higher inflation in the year ahead.

Despite Friday’s pullback, all major indexes were on track for their longest streak of monthly gains in over a year, buoyed by optimism that the Fed could still cut rates in September. Markets will pause for the Labor Day holiday before resuming trading next week.


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