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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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Pope Francis Shows Signs of Recovery from Pneumonia

Pope Francis is making strides in his recovery from pneumonia, according to the Vatican. The 88-year-old pontiff has been hospitalized at Rome's Gemelli hospital since February 14th after a bout of bronchitis worsened. Despite the severity of his condition, recent updates from the Vatican indicate that Pope Francis is showing positive signs of improvement.

On Thursday morning, the Pope was able to sit up out of bed and eat breakfast, marking his sixth peaceful night at the hospital. Vatican spokesman Matteo Bruni reported a slight improvement in some inflammation indices based on new blood tests conducted late Wednesday.

The Pope's condition had initially raised concerns due to his age and pre-existing health issues, including the loss of part of his right lung decades ago. However, his ability to get out of bed and maintain good spirits has been seen as a positive sign by medical experts.

Italian Premier Giorgia Meloni visited Pope Francis on Wednesday and noted that he was alert, responsive, and in good humor despite his diagnosis. The Pope is currently receiving a combination of antibiotics, cortisone, and additional pharmacological treatments to aid his recovery.

As the world continues to pray for his swift recovery, the Vatican remains hopeful that Pope Francis will overcome this health challenge and return to his duties soon.


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