Major Economic & Policy Updates

• Federal Budget & Spending: The 2026 Spring Economic Update projects a $65.3 billion deficit for 2026-27. To stimulate strategic growth, the government launched the Canada Strong Fund, a $25 billion national sovereign wealth fund.

• Tax Relief: The federal fuel excise tax was temporarily suspended (effective April 20–Sept 7), and alcohol excise duty relief was extended for two years.

• Minimum Wage Increases: On April 1, the federal minimum wage rose to $18.15. Several provinces, including Newfoundland and Labrador, PEI, Nova Scotia, New Brunswick, and Yukon, also implemented rate hikes.

• Monetary Policy: The Bank of Canada held its overnight rate steady at 2.25%, while the U.S. Federal Reserve maintained its range at 3.50% to 3.75%.

Corporate & Industrial Developments

• Energy & Mining M&A: A massive wave of consolidation hit the resource sector, led by Shell’s $22 billion acquisition of ARC Resources. Additionally, Agnico Eagle Mines completed a $3.35 billion acquisition of Rupert and Aurion Resources.

• Infrastructure: The $4 billion Sunrise Expansion Program for natural gas pipelines in B.C. received federal approval, with construction set for July 2026.

• Transportation & Labor: WestJet and Transat reduced flight capacities due to high fuel costs and market volatility. Meanwhile, METRO Inc. faced strikes at its distribution and head office facilities in Quebec.

Financial Markets (as of April 30, 2026)

• Oil Prices: WTI Crude rose to USD $105.07 per barrel.

• Currency: The Canadian dollar strengthened to 73.40 cents U.S.

• Stock Market: The S&P/TSX composite index saw a gain, closing the month at 33,964.33.