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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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Arctic Blast: Winter Storm Spreads from New Orleans to Florida and Carolinas

A major winter storm that brought record-breaking snow to New Orleans has now spread into Florida and the Carolinas, causing significant disruptions and dangerous conditions. The storm, which initially slammed Texas and blanketed the northern Gulf Coast with snow, has moved eastward, bringing heavy snow, sleet, and freezing rain to parts of the Florida Panhandle, Georgia, and eastern Carolinas.

In New Orleans, the storm set a new record with 10 inches of snowfall, far surpassing the previous record of 2.7 inches set in 1963. The rare snowfall led to highway closures, grounded flights, and school cancellations. The unusual weather also prompted the first-ever blizzard warnings for several coastal counties near the Texas-Louisiana border.

As the storm continues its path, Jacksonville, Florida, is expected to see snow, sleet, and accumulating ice, leading to the closure of Jacksonville International Airport and the cancellation of classes and government offices. In eastern North Carolina, near-blizzard conditions are predicted, with up to 8 inches of snow expected in the Outer Banks.

Authorities have reported three deaths related to the cold weather, and dangerous below-freezing temperatures are expected to persist over much of the region. Residents are advised to stay indoors and monitor local forecasts as the storm moves through Georgia and the Carolinas.

Despite the challenges, many people have embraced the rare weather, engaging in snowball fights, sledding, and even urban skiing in New Orleans. The storm has certainly made for a memorable winter in the Deep South.


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