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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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Market Turmoil as Crude Spikes: Wall Street Futures Slide

 

US stock futures stumbled sharply as oil prices surged past the $100-per-barrel threshold, rattling global markets and intensifying fears of prolonged geopolitical instability. 

A Rapid Market Sell-Off

Dow, S&P 500, and Nasdaq futures all tumbled early Monday following a dramatic overnight spike in crude oil prices driven by escalating conflict in the Middle East. Futures for all three major indices had plunged more than 2% in pre-market trading before trimming some losses. 

Oil Breaks Above $100 — and Keeps Climbing

Crude prices surged as much as 25% late Sunday, briefly topping $119 a barrel — levels not seen since 2022. The spike was fueled by fears of supply disruptions as conflict involving Iran intensified, threatening key shipping routes and production hubs. Brent crude also soared past $114 a barrel.

Investor Anxiety Deepens

The sudden jump in energy prices has amplified concerns about inflation, consumer spending, and corporate margins. With oil now well above the $100 mark, analysts warn that prolonged instability could weigh heavily on global economic growth and market sentiment.

Global Ripple Effects

The shockwaves were felt worldwide as markets reacted to the possibility of a sustained supply crunch. Gas prices in the US have already begun climbing, and energy costs across Europe and Asia are expected to follow. 


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