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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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Canadian Unemployment Rate Falls to 6.5% as Job Market Surges

 

In a surprising turn of events, Canada’s labour market exceeded expectations in September, adding a net 47,000 jobs. This surge in employment led to a drop in the unemployment rate to 6.5%, according to the latest data from Statistics Canada.

This marks the first decline in the unemployment rate since January, driven primarily by significant gains in full-time employment, particularly among youth and women aged 25 to 54. The robust job growth highlights the resilience of the Canadian economy amidst global economic uncertainties.

Economists had anticipated a more modest increase in employment, making this development a positive indicator for the country’s economic health. The data suggests that sectors such as healthcare, education, and professional services saw the most significant job additions.

As Canada continues to navigate post-pandemic recovery, these employment gains provide a hopeful outlook for sustained economic growth and stability.


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