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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...
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Israeli Forces Seize Crucial Rafah Border Crossing in Gaza

 

Israeli ground forces have seized control of the Gaza side of the Rafah border crossing with Egypt, effectively cutting off a vital route for humanitarian aid and potential sanctuary for civilians. The crossing has been a crucial entry point for supplies into the besieged enclave.

The Israeli 401st Brigade entered the Rafah crossing on Tuesday morning, a day after the Palestinian group governing Gaza said it accepted an Egyptian-Qatari mediated ceasefire proposal. However, Israel insisted that the deal did not meet its core demands. The seizure of the Rafah crossing comes as prospects for a ceasefire deal with Hamas hang in the balance.

The Rafah crossing is crucial for both aid and those able to flee into Egypt. Israeli leaders had long anticipated a military operation into the southern city, where some 1.4 million Palestinians, including more than 600,000 children, are sheltering. Despite warnings from the United Nations, United States, the European Union, and international humanitarian organizations that an attack would be catastrophic, Israel moved forward with its offensive.

Footage released by the Israeli military showed a tank entering the Palestinian side of the Rafah crossing. Details of the video matched known features of the crossing, and Israeli flags were seen flying from tanks that seized the area. The military said its special forces were scanning the area and had been operating since Monday night in eastern Rafah. Evacuations were carried out, with Palestinians instructed to move towards al-Mawasi on the Mediterranean Sea coast, where a humanitarian zone with field hospitals, tents, and medical supplies had been set up. However, the Israeli military intensified its bombardment of the city, resulting in casualties.

As the situation unfolds, the seizure of the Rafah crossing puts ceasefire talks on a knife’s edge. The international community closely watches developments in the region, hoping for a resolution that will spare civilian lives and alleviate the humanitarian crisis in Gaza. However, with Israel’s insistence on achieving its aims and Hamas’s resistance, the path to peace remains uncertain.


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