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5 Things to Know Today: BoC Minutes, U.S. CPI and Cheaper Gas (Nov. 8, 2026)

  Canadian Money Brief • Sunday, November 8, 2026 Markets are closed until Monday, but the week ahead is loaded: two Bank of Canada releases, a key U.S. inflation report and some welcome relief at the pump. Here are five things to know today, and what each means for your wallet. 1. Two Bank of Canada releases land early this week The Bank of Canada publishes its Q3 Market Participants Survey Monday at 10:30 a.m. ET, then the summary of deliberations behind its Oct. 28 rate decision Tuesday at 1:30 p.m. ET. The Bank raised its policy rate 25 basis points to 2.50% that day, its first hike since July 2023, and signalled more tightening was possible if energy costs spill into broader prices. The minutes were written before the post-midterm oil drop, so watch how hawkish the tone is. What it means for you: If you have a variable-rate mortgage or a HELOC, the minutes help show whether another hike is on the table at the next decision on Dec. 9. A hawkish read keeps pressure on borrowin...
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Ontario Premier Ford's Bold Stance Amid U.S. Tariff Tensions

Ontario Premier Doug Ford has issued a strong warning in response to the United States' decision to impose sweeping tariffs on Canadian goods. Speaking at a mining convention in Toronto, Ford threatened to cut off electricity exports to U.S. states like New York, Michigan, and Minnesota if the tariffs proceed. Ontario is a significant electricity supplier to these regions, and Ford emphasized the potential impact of such a move, stating, "They rely on our energy. They need to feel the pain".

The tariffs, announced by U.S. President Donald Trump, include a 25% levy on Canadian goods and a 10% tariff on energy exports. In retaliation, Ford has also proposed additional measures, such as implementing surcharges on energy exports and urging Ontarians to prioritize locally made products. The Premier's remarks come as Canada braces for the economic fallout, with federal and provincial governments preparing coordinated responses to protect industries and workers.

Prime Minister Justin Trudeau has announced retaliatory tariffs targeting billions of dollars in U.S. exports, signaling Canada's firm stance against the trade measures. As tensions escalate, the situation underscores the interconnectedness of the two nations' economies and the potential consequences of a trade war.

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