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5 Things to Know Today: Hot U.S. Inflation, BoC Hike Odds, Loonie Slump (Oct. 15)

  Canadian Money Brief | Thursday, October 15, 2026 A hotter-than-expected U.S. inflation print rattled markets Wednesday, just as Canadians wait on their own CPI and a Bank of Canada decision. Here are the five things that matter to your wallet today. 1. Hot U.S. inflation knocks the TSX down 1.1% U.S. consumer prices rose 3.7% in September from a year earlier (up from 3.4% in August), with a 0.6% monthly jump, the biggest in five months; core inflation rose to 2.6% from 2.4%, per the Labor Department. Gasoline jumped 9.1% in the month. CME FedWatch odds of a Fed hike at the Oct. 27-28 meeting roughly doubled but sit near 50-50. The S&P/TSX Composite fell 399.52 points (-1.11%) to 35,584.46 Wednesday, ending a three-day win streak; basic materials sank 4.33%, and all six big banks finished lower. The Nasdaq lost 1.88%. What it means for you: Higher U.S. rates tend to pull Canadian bond yields up too, and that is what fixed mortgage rates follow. If you have a renewal coming,...

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Court Battle Aims to Reopen Parliament Amid Prorogation Crisis

A novel legal challenge has hit the Federal Court as opponents seek to force MPs back to work before Prime Minister Justin Trudeau’s prorogation period ends. Filed by the Calgary-based Justice Centre for Constitutional Freedoms on February 13, 2025, the suit argues that suspending parliamentary business until late March undermines democracy by preventing legislators from addressing urgent issues—including the looming U.S. tariff threat and stalled legislation like the capital gains tax reform.

Critics claim the prorogation was a politically motivated tactic designed to delay accountability during a turbulent period. They assert that Parliament’s essential role—to debate policy and hold the government to account—is compromised when the House sits on hiatus. With the hearing scheduled for later this week, legal experts say the outcome could set an important precedent on the limits of executive power and parliamentary rights.

As Canada navigates political uncertainty amid a leadership transition, the challenge highlights growing calls for transparency and a more robust system of checks and balances.


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