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5 Things to Know Today — Fed Hikes, BoE Warns, and the TSX Is Bouncing Back

  The Fed's first rate hike since 2023 rocked markets Wednesday. Here's what it means for your wallet on Friday, September 18. Friday, September 18, 2026  |  moneysavings.ca 1 The Fed Hiked — First Time Since 2023 The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00% on Wednesday — the first hike since June 2023. Chair Kevin Warsh cited persistent inflation tied to elevated oil prices and a still-resilient economy, saying recent inflation readings hadn't improved enough to justify holding. The decision was unanimous. The updated dot plot signals one more potential hike by year-end, then a pause through 2027. Markets initially sold off, but U.S. futures are rebounding this morning as investors reframe the move as a sign the Fed is serious about getting inflation under control. 💡 What It Means for You A higher U.S. federal funds rate puts upward pressure on Canadian bond yields and mortgage rates. The BoC is already...
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U.S. Urges Canada to Collaborate on Curbing Imports of Forced-Labour Goods from China

 

The U.S. State Department’s top human rights official, Uzra Zeya, has called for Canadian cooperation in addressing the importation of goods made from forced Uyghur and Tibetan labor in China. Zeya emphasized the need for joint efforts to combat this pressing issue.

Key Points:

  1. Uyghur Forced Labor Prevention Act: The U.S. has taken a strong stance against forced labor by passing the Uyghur Forced Labor Prevention Act. This law presumes that any goods from China’s northwestern region of Xinjiang are made using coerced labor of Muslim Uyghurs. Importers must demonstrate that products are not produced under forced servitude, or shipments from the region are blocked.

  2. Canada’s Commitment: Under the United States-Mexico-Canada Agreement (USMCA), Canada pledged to bar imports manufactured with forced labor. However, as of December 2023, Ottawa had not halted any shipments of such goods entering the country since the agreement took effect in July 2020.

  3. Collaboration and Accountability: Zeya highlighted the importance of collaboration between the U.S. and Canada to prevent forced-labor products from entering North America. She expressed readiness to share experiences and best practices to tackle this issue effectively.

  4. Global Impact: Democratic Senator Jeff Merkley raised concerns that Chinese companies have redirected goods made in Xinjiang to Canada and Europe following the U.S. ban. The Global Slavery Index estimates that over $18.5 billion worth of goods imported annually into Canada are at risk of being produced with forced labor.

As the international community grapples with this human rights challenge, joint efforts between the U.S. and Canada can play a crucial role in ensuring the integrity of supply chains and protecting vulnerable workers.



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