Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Canada Implements Digital Services Tax Amidst Controversy

Canada has officially enacted a digital services tax (DST), which imposes a three percent levy on revenue from Canadian users by foreign tech giants, retroactive to 2022. This move has sparked significant debate and concern among businesses and the United States government, with fears of potential trade repercussions.

Deputy Prime Minister and Finance Minister Chrystia Freeland defended the decision, stating that it was unfair for Canada to indefinitely delay its own measures while waiting for a multilateral agreement on digital service taxes. She emphasized the need for tech companies to pay their fair share of taxes on revenue earned without a physical presence in Canada.

The DST is expected to affect companies with global annual income of at least $1.1 billion and Canadian revenues greater than $20 million a year. While the tax aims to level the playing field and support essential investments within the country, it has raised concerns about adding irritants to the trade relationship with the United States, especially during a sensitive time with upcoming presidential and congressional elections.

Labels:

Comments

Post a Comment