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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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Tech Stocks Lead Market Rally as Fed Signals Potential Rate Cut

 

In a significant market rally today, stocks soared, driven by a resurgence in tech shares. Nvidia led the charge, surging 12% after a positive earnings report and favorable analyst comments. The broader market also benefited from the Federal Reserve’s decision to hold interest rates steady, with Fed Chair Jerome Powell hinting that a rate cut could be on the table for September.

The S&P 500 rose nearly 1.6%, while the tech-heavy Nasdaq Composite surged more than 2.6%. The Dow Jones Industrial Average saw a more modest gain of 0.2%. Powell’s comments provided a boost to investor sentiment, as he noted that the economy is moving closer to the point where a rate reduction might be appropriate.

Tech stocks, which had been under pressure recently, rebounded strongly. Nvidia’s impressive performance was a highlight, with the company’s shares regaining ground lost earlier in the week. Other tech giants also saw gains, contributing to the overall positive market sentiment.

In commodities, oil prices jumped following geopolitical tensions, with Brent crude rising over 4% to top $81 a barrel. Meanwhile, Meta’s stock rose more than 4% after reporting better-than-expected earnings for the second quarter,

Overall, today’s market action reflects growing optimism among investors, buoyed by the potential for a more accommodative monetary policy and strong performances from key tech companies.


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