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5 Things to Know Today — Fed Hikes, BoE Warns, and the TSX Is Bouncing Back

  The Fed's first rate hike since 2023 rocked markets Wednesday. Here's what it means for your wallet on Friday, September 18. Friday, September 18, 2026  |  moneysavings.ca 1 The Fed Hiked — First Time Since 2023 The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00% on Wednesday — the first hike since June 2023. Chair Kevin Warsh cited persistent inflation tied to elevated oil prices and a still-resilient economy, saying recent inflation readings hadn't improved enough to justify holding. The decision was unanimous. The updated dot plot signals one more potential hike by year-end, then a pause through 2027. Markets initially sold off, but U.S. futures are rebounding this morning as investors reframe the move as a sign the Fed is serious about getting inflation under control. 💡 What It Means for You A higher U.S. federal funds rate puts upward pressure on Canadian bond yields and mortgage rates. The BoC is already...
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Trump Grants 30-Day Reprieve on Auto Tariffs for Mexico and Canada


In a recent move, President Donald Trump has announced a 30-day pause on tariffs for auto imports from Mexico and Canada. This decision comes after requests from major automakers, including Ford, General Motors, and Stellantis, who argued that the tariffs would put them at a competitive disadvantage.

The temporary exemption is intended to give these companies time to shift production to the United States, where they will not be subject to tariffs. White House Press Secretary Karoline Leavitt stated that the ultimate goal is to boost domestic auto manufacturing and reduce reliance on foreign production.

While the reprieve offers some relief to the auto industry, it is only a temporary measure. The 25% tariffs on auto imports from Mexico and Canada are still set to go into effect on April 2, unless further exemptions are granted.

The decision has sparked mixed reactions. Some industry experts believe that the pause will provide much-needed breathing room for automakers, while others are concerned about the long-term impact on cross-border supply chains.

As the deadline approaches, the auto industry will be closely monitoring any further developments and potential negotiations between the U.S., Mexico, and Canada.



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