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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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Escalating Conflict Disrupts Global Oil Stability

 

A tanker is damaged after catching fire in Iraqi waters following an attack, according to Iraqi port officials, near Basra, Iraq on Thursday.


Two oil tankers were set ablaze in Iraqi waters after suspected Iranian explosive-laden boats struck the vessels, marking a sharp escalation in regional hostilities and raising fears of a prolonged economic shock. 

Regional Impact and Global Stakes

  • Iran’s Strategy: The attacks appear to be part of a broader campaign targeting oil and transport infrastructure across the Middle East, signaling Iran’s intent to pressure global markets and challenge U.S. claims of strategic dominance. 
  • Economic Shockwaves: Oil prices surged above £100 a barrel following the strikes, with Iran warning the world to prepare for prices potentially reaching $200 a barrel. Such volatility threatens to ripple through global supply chains and energy markets. 
  • Casualties and Damage: At least one crew member was killed, and multiple vessels have been hit in recent weeks, underscoring the growing danger to maritime operations in the region. 

A Conflict Far From Contained

The attacks come amid a broader U.S.-Israeli conflict with Iran, with nearly two weeks of hostilities resulting in thousands of casualties and widespread infrastructure damage. As tensions continue to rise, the risk of further disruptions to global oil supplies remains high. 


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