Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca · Economy & Policy Monday, April 13, 2026 · Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
A ship sailing in the Gulf of Aden was hit by a missile on Monday, less than a day after Yemen’s Houthi rebels fired an anti-ship cruise missile toward an American destroyer in the Red Sea, officials said.
The attack on the ship, which occurred about 110 miles southeast of Aden, was reported by the United Kingdom Maritime Trade Operations, which oversees Mideast waters. The ship’s captain said the missile struck the port side of the vessel from above, but did not provide any further details.
The identity of the ship and its crew was not immediately disclosed, nor was the extent of the damage or any casualties.
The Houthi rebels, who are backed by Iran and control Yemen’s capital, have not claimed responsibility for the attack, but they have previously targeted shipping in the Gulf of Aden and the Red Sea amid Israel’s war with Hamas in the Gaza Strip.
The Houthis have said they are defending themselves against the Saudi-led coalition that has been bombing them since 2015, after they ousted the internationally recognized government of Yemen.
The U.S. and its allies have accused the Houthis of disrupting the free flow of international commerce and threatening regional stability. President Joe Biden has warned that he will not hesitate to take further measures to protect U.S. interests and allies in the area.
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