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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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Oil Markets Roar as Iran Conflict Pushes Prices to Highest Levels Since 2022

 


                        A man fills up his car as others wait in a line at a gas station in Seoul, South Korea


Oil prices have surged past $119 a barrel, reaching their highest point since mid‑2022 as the escalating U.S.–Israeli conflict with Iran disrupts global energy supplies. The spike comes amid major producer output cuts, shipping disruptions, and heightened fears over the stability of Middle Eastern supply routes.

Brent crude briefly hit $119.50, marking one of the largest single‑day jumps on record, while U.S. WTI futures mirrored the surge. Analysts attribute the volatility to attacks on oil infrastructure, reduced output from Gulf producers, and the threat of prolonged instability in the Strait of Hormuz—through which nearly a fifth of the world’s oil flows. 

As markets brace for continued uncertainty, governments and financial institutions are monitoring the situation closely, with some G7 nations considering emergency reserve releases to stabilize supply. 

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