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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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Mixed Reactions as Federal Government’s GST Holiday Takes Effect

 

The federal government’s two-month GST holiday, which began on Saturday, has elicited mixed reactions from both businesses and shoppers across Canada. The temporary tax break, aimed at easing affordability concerns during the holiday season, waives the five percent goods and services tax on a range of items including restaurant meals, children’s clothing, and toys.

Businesses Struggle with Compliance

Many businesses have found the implementation of the GST holiday to be an administrative burden. Patrick Neault, general manager of Raffin Bookstore in Montreal, mentioned that his staff had to work extra hours to ensure compliance with the new regulations. “It’s not that much of a deal. It’s like a few percent discount on a transaction,” Neault said, expressing doubt about whether the benefits outweigh the extra work.

Shoppers Show Limited Enthusiasm

Shoppers have also shown lukewarm enthusiasm for the tax break. While some, like Katrina Rose from Halifax, took advantage of the savings on holiday purchases, others, like Jennifer Matthew, felt the savings were too minimal to make a significant impact. “I don’t think it’s going to put a big dent in my wallet by any means,” Matthew said.

Conclusion

As the GST holiday continues until February 15, 2025, businesses and shoppers alike are cautiously optimistic about its potential benefits. While some appreciate the temporary relief, others remain skeptical about its long-term impact.




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