Skip to main content

Featured

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...

article

Proposed Tax Change Could Impact Electricity and Gas Bills in Certain Provinces



Electricity Canada has raised concerns about a proposed tax change that could have significant implications for consumers. The alteration, outlined in the government’s bill to implement its fall mini-budget, aims to align Canada’s tax rules with those of other countries that operate across multiple jurisdictions.

The proposed adjustment to the Income Tax Act would bring Canada in line with the United States, the United Kingdom, and Ireland. However, the impact on privately operated utilities—particularly electricity and natural gas companies—could be substantial.

Michael Powell, Vice President of Government Relations at Electricity Canada, warns that this change may force privately operated utilities to increase the rates charged to consumers. The issue arises from the reduction in tax exemptions for debt loads, which would result in higher income tax bills for these companies.

As private utilities often carry higher debt loads to maintain lower rates, the proposed tax change could lead to rate hikes for electricity and natural gas services. Consumers in affected provinces should closely monitor developments and prepare for potential adjustments to their utility bills.

While the goal is to harmonize tax rules internationally, the impact on everyday Canadians remains a critical consideration. As the bill progresses, citizens and policymakers alike will be watching closely to assess its effects on household budgets.


Comments