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5 Things to Know Today: Fed Decision Looms, TSX Slides, Gas Prices Climb (Sept 16)

  Wednesday, September 16, 2026 The Fed's biggest decision in years lands at 2 p.m. ET today, the TSX and loonie are both licking their wounds, and drivers are paying more at the pump despite the gas tax holiday. Here's what's moving your money this morning. 1. The Fed Decides on Rates Today — and a Hike Looks All but Certain The Federal Reserve announces its rate decision at 2 p.m. ET, with Chair Kevin Warsh's press conference to follow at 2:30 p.m. Markets have priced in over 90% odds of a 25-basis-point hike, which would lift the target range to 3.75%–4.00% from 3.50%–3.75%, where it's sat since December. It would be the first hike of this cycle, driven by inflation still running above target even as the labour market holds up. What it means for you: A Fed hike widens the gap with the Bank of Canada's 2.25% rate, which tends to pressure the loonie lower and nudge Canadian bond yields — and by extension fixed mortgage pricing — upward. Watch for the reaction ...
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Canada's Unemployment Rate Hits 6.8% Amidst Job Market Challenges


Despite a significant increase in hiring, Canada's unemployment rate rose to 6.8% in November, marking the highest level since January 2017, excluding the pandemic period. The economy added 51,000 jobs last month, with most of the gains in full-time employment. However, the rise in unemployment was driven by more people entering the job market, reflecting ongoing challenges in the labor market.

The Bank of Canada is closely monitoring these developments as it prepares for its upcoming interest rate decision. High interest rates have cooled the labor market over the past year, leading to longer periods of unemployment for many Canadians. The job report also highlighted that 46.3% of unemployed Canadians in November had not worked in the last year or had never worked, up from 39.5% a year ago.

As the country navigates these economic headwinds, the focus remains on balancing job growth with inflation control and interest rate adjustments.




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