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5 Things to Know Today: US Inflation Day, Canada’s Job Losses and Oil Near $106 | Oct. 14, 2026

  Canadian Money Brief  |  Wednesday, October 14, 2026 Good morning. The biggest number of the day lands at 8:30 a.m. ET, and it could shape where mortgage rates and the loonie go next. Here are the five things worth knowing before you start your day. 1 US inflation report lands at 8:30 a.m. ET September U.S. CPI is the last major inflation reading before the Fed meets Oct. 27–28. Economists expect headline inflation to climb to roughly 3.6%–3.7% from 3.4% in August, a gasoline-driven jump of about 0.6% on the month, while core inflation is seen cooling to around 0.2% month over month. The Fed raised its target range to 3.75%–4.00% on Sept. 16, but September payrolls added just 29,000 jobs, and markets now see roughly a one-in-four chance of another hike in October, with December still largely priced in. What it means for you: A hotter-than-expected print can push bond yields higher, and Canadian fixed mortgage rates follow the 5-year bond. A cooler one eases the pressu...
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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 March and is expected to push toward 3% in April. The next rate decision is June 10. Variable-rate mortgage holders should expect no change to their payments in the near term.

03 — POLICY

Canada gets its first sovereign wealth fund — and you can invest in it

The federal government's Spring Economic Update, tabled Monday, introduced the Canada Strong Fund — a first-of-its-kind national sovereign wealth fund seeded with $25 billion over three years. Unusually, the fund will include a retail investment product, letting individual Canadians participate directly in its financial returns alongside institutional investors. The fund will back strategic infrastructure and nation-building projects. Details on how to invest will follow in the coming months.

04 — PENSION

Your CPP contributions are going down in 2027

The Carney government announced plans to reduce the base CPP contribution rate from 9.9% to 9.5% of insurable earnings, starting next year. A worker earning $70,000 annually would save roughly $133 per year. The cut has the backing of provincial finance ministers and is supported by the latest CPP actuarial report, which confirms the plan remains fully solvent at the lower rate. The change applies to both employee and employer contributions.

05 — CRYPTO

Ottawa moves to ban crypto ATMs across Canada

The Spring Economic Update included a surprise measure: a proposed ban on cryptocurrency ATMs nationwide. The move targets a growing fraud vector — scammers routinely direct victims to crypto ATMs to send untraceable payments. Canada has one of the highest concentrations of crypto ATMs in the world. The legislation is expected to be introduced in the coming weeks. If you currently use a crypto ATM for legitimate purposes, this change will affect how you access digital assets in person.

moneysavings.ca / Canadian Money Brief / April 30, 2026 · All figures in CAD unless noted.

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