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5 Things to Know Today: US Inflation Day, Canada’s Job Losses and Oil Near $106 | Oct. 14, 2026

  Canadian Money Brief  |  Wednesday, October 14, 2026 Good morning. The biggest number of the day lands at 8:30 a.m. ET, and it could shape where mortgage rates and the loonie go next. Here are the five things worth knowing before you start your day. 1 US inflation report lands at 8:30 a.m. ET September U.S. CPI is the last major inflation reading before the Fed meets Oct. 27–28. Economists expect headline inflation to climb to roughly 3.6%–3.7% from 3.4% in August, a gasoline-driven jump of about 0.6% on the month, while core inflation is seen cooling to around 0.2% month over month. The Fed raised its target range to 3.75%–4.00% on Sept. 16, but September payrolls added just 29,000 jobs, and markets now see roughly a one-in-four chance of another hike in October, with December still largely priced in. What it means for you: A hotter-than-expected print can push bond yields higher, and Canadian fixed mortgage rates follow the 5-year bond. A cooler one eases the pressu...
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Trudeau's Resignation Sparks Speculation on Upcoming Canadian Election

 

Canadian Prime Minister Justin Trudeau has announced his resignation as the leader of the ruling Liberal Party, following months of pressure from party members and declining public approval ratings. Trudeau's decision to step down comes ahead of a federal parliamentary election that must happen by October 2025, but it could be held earlier if the House of Commons passes a motion of no-confidence to dissolve the incumbent Liberal government.

Trudeau's nine-year tenure as Prime Minister has faced increasing challenges, with two-thirds of Canadians disapproving of his performance amid frustration over the cost of living and record immigration levels. The Liberal Party now trails the opposition Conservative Party by more than 20 percentage points, and voter support hit a record low by the end of 2024.

The resignation of Deputy Prime Minister and Finance Minister Chrystia Freeland in December further intensified the pressure on Trudeau to step down. Freeland's departure, along with recent losses in by-elections in formerly Liberal strongholds, pushed party members to hold a closed-door caucus meeting in late October, where they urged Trudeau to resign.

Trudeau's resignation has led to speculation about the timing of the next federal election. While the election must be held by October 2025, it could be called earlier if the House of Commons passes a motion of no-confidence. The Liberal Party constitution states that upon resignation, the party board of directors, in consultation with the caucus, should appoint an interim leader. The party will then conduct a robust, nationwide competitive process to select a new leader.

As Canadians await the selection of a new Liberal leader, the political landscape remains uncertain. The upcoming election will provide a clear choice for Canadians, and the outcome will shape the future direction of the country.


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