If you noticed a slight dip at the pump last month, you’re looking at the main reason Canada's inflation rate is about to take a breather. When Statistics Canada drops its fresh data on Monday, the annual inflation rate is expected to slide to 2.9% for June (down from May's 3.2% peak). Analysts at RBC think it could go as low as 2.8%. The main driver? A 10% drop in gas prices in June, triggered by temporary peace hopes between the U.S. and Iran. Plus, slowing population growth is finally...

Filing taxes can be a massive headache, but for many low-income Canadians, missing out on doing them means missing out on vital federal benefits. The government is aiming to fix this with a new plan to automatically file tax returns for eligible low-income individuals. A recent report from the Parliamentary Budget Officer (PBO) sheds some light on what this program will actually look like: The Big Payout: The PBO estimates that eligible people who don't currently file taxes (and don't owe...

The Bank of Canada is widely expected to keep its benchmark interest rate steady at 2.25% at its upcoming June announcement. However, economists warn that the central bank’s next move is increasingly likely to be a rate hike rather than a cut, despite growing financial strain on Canadian households. Normally, Canada’s recent slip into a technical recession during the first quarter of the year would trigger a rate cut to stimulate economic growth. However, a "pressure cooker" of global...