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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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India’s Russian Oil Purchases in Question After Trump’s Claim

he India-flagged oil tanker Desh Ujaala is pictured in the Gulf waters near Al-Basrah Oil Terminal (ABOT), about 50 kilometres offshore of Iraq’s southern Faw peninsula, on August 5, 2025.

U.S. President Donald Trump announced that Indian Prime Minister Narendra Modi has assured him New Delhi will halt purchases of Russian oil, a move Trump described as a “big step” in efforts to cut Moscow’s energy revenues amid the ongoing war in Ukraine.

According to Trump, the commitment came during recent discussions between the two leaders, with the U.S. president emphasizing that Washington would now push China to follow suit. Oil markets reacted swiftly, with prices rising about 1% following the remarks.

However, India’s Ministry of External Affairs (MEA) has offered a more cautious response. Officials reiterated that India’s energy policy is guided by the need to ensure stable prices and secure supplies for its domestic consumers, stressing that diversification of sources remains a priority.

Russia, for its part, defended its energy partnership with India, with its envoy in New Delhi stating that cooperation remains aligned with India’s national interests.

The situation leaves uncertainty over whether India will fully comply with Trump’s claim or continue balancing its strategic ties with both Washington and Moscow.


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