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5 Things to Know Today: CPI Day, BoC Hike Odds & Oil Near US$108 (Oct. 19)

  Canadian Money Brief • Monday, October 19, 2026 Inflation numbers, a nervous Bank of Canada, a rising oil price and a tech selloff: it is a busy Monday for your wallet. Here are the five things worth knowing before you start your week. 1. Canada's September inflation report lands at 8:30 a.m. ET Statistics Canada releases September CPI this morning. A Reuters poll of economists expects annual inflation to have accelerated to 3.2% from 3.0% in August, with prices up about 0.2% on the month. Not everyone agrees: RBC is looking for inflation to hold at 3.0% for a third straight month. The Bank of Canada also publishes its quarterly business and consumer surveys today, which show whether firms plan to pass higher costs on to customers. This is the Bank's last look at price data before its Oct. 28 decision. What it means for you: A hotter-than-expected print makes a rate hike more likely, which would push up variable-rate mortgage and HELOC costs and could lift fixed-rate pricing...
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Finance Minister Chrystia Freeland Resigns Amid Budget Deficit Blowout

 

In a shocking turn of events, Finance Minister Chrystia Freeland announced her resignation from Prime Minister Justin Trudeau's cabinet on Monday. The announcement came just hours before the release of the government's fall economic statement, which revealed a staggering budget deficit of C$61.9 billion, overshooting the target by C$20 billion.

Freeland cited disagreements with Trudeau over the government's economic policies as the primary reason for her departure. She expressed concerns about the "costly political gimmicks" and urged the Prime Minister to collaborate more closely with the country's premiers to address economic challenges.

The fall economic statement, tabled by Government House Leader Karina Gould in Freeland's absence, included over C$20 billion in new spending and highlighted the growing fiscal deficit. The government also pledged C$1.3 billion for border security measures in response to threats of steep tariffs from U.S. President-elect Donald Trump.

Freeland's resignation has thrown the government into disarray, raising questions about the future direction of Canada's economic policies and the potential impact on the upcoming general elections.



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