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5 Things to Know Today: BoC Minutes, U.S. CPI and Cheaper Gas (Nov. 8, 2026)

  Canadian Money Brief • Sunday, November 8, 2026 Markets are closed until Monday, but the week ahead is loaded: two Bank of Canada releases, a key U.S. inflation report and some welcome relief at the pump. Here are five things to know today, and what each means for your wallet. 1. Two Bank of Canada releases land early this week The Bank of Canada publishes its Q3 Market Participants Survey Monday at 10:30 a.m. ET, then the summary of deliberations behind its Oct. 28 rate decision Tuesday at 1:30 p.m. ET. The Bank raised its policy rate 25 basis points to 2.50% that day, its first hike since July 2023, and signalled more tightening was possible if energy costs spill into broader prices. The minutes were written before the post-midterm oil drop, so watch how hawkish the tone is. What it means for you: If you have a variable-rate mortgage or a HELOC, the minutes help show whether another hike is on the table at the next decision on Dec. 9. A hawkish read keeps pressure on borrowin...

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National Climate Action Plans Remain Insufficient to Limit Global Temperature Rise to 1.5 Degrees Celsius

 


The recent report from UN Climate Change has found that national climate action plans remain insufficient to limit global temperature rise to 1.5 degrees Celsius and meet the goals of the Paris Agreement. The report indicates that even with increased efforts by some countries, much more action is needed now to bend the world’s emissions trajectory further downward and avoid the worst impacts of climate change.

The report is a red alert for our planet, and it shows why governments must make bold strides forward at COP28 in Dubai, to get on track. 

COP28 is the 28th annual United Nations (UN) climate meeting where governments will discuss how to limit and prepare for future climate change. 

The conclusion of the first global stocktake at COP28 is where nations can regain momentum to scale up their efforts across all areas and get on track with meeting the goals of the Paris Agreement. The stocktake is intended to inform the next round of climate action plans under the Paris Agreement (known as nationally determined contributions, or ‘NDCs’) to be put forward by 2025, paving the way for accelerated action.

The latest science from the UN’s Intergovernmental Panel on Climate Change indicates that greenhouse gas emissions need to be cut 43% by 2030, compared to 2019 levels. This is critical to limit temperature rise to 1.5 degrees Celsius by the end of this century and avoid the worst impacts of climate change, including more frequent and severe droughts, heatwaves and rainfall.

The report shows that governments combined are taking baby steps to avert the climate crisis. It’s time to show the massive benefits now of bolder climate action: more jobs, higher wages, economic growth, opportunity and stability, less pollution and better health. Governments must not only agree what stronger climate actions will be taken but also start showing exactly how to deliver them.


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