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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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Winter Set to Redeem Itself After Record-Breaking Warmth

 

After experiencing the warmest winter on record last year, Canada is bracing for a colder season this year, according to The Weather Network's chief meteorologist, Chris Scott. Scott predicts that this winter will attempt to "salvage its reputation" with generally colder temperatures and more impactful weather compared to last year.

The forecast indicates that Western Canada will see near- or above-normal snow totals, while Ontario and Quebec can expect significant winter weather in December. However, Scott warns that the overall winter will still not be a "blockbuster" for any region.

"It's coming east in a hurry, and it will pack a real punch," Scott said, noting that there will be a "mad scramble for winter tires and salt" in Ontario and Quebec.

The Weather Network's seasonal forecast suggests that while January and February may be milder in Quebec and Ontario, Manitoba and Saskatchewan will experience a more typical winter. The forecast also brings good news for drought-weary prairie farmers, who rely on snowmelt to boost soil moisture in the spring.




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