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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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Jagmeet Singh Steps Down as NDP Leader Amid Electoral Defeat


In a significant political development, Jagmeet Singh has announced his resignation as the leader of the New Democratic Party (NDP) following a disappointing performance in the 2025 federal election. Singh, who represented the Burnaby Central riding, faced a tough electoral battle and ultimately lost his seat. This marks a turning point for the NDP, which is projected to lose its official party status after a dramatic decline in parliamentary representation.

During an emotional concession speech, Singh expressed gratitude to his supporters and reflected on his tenure as leader. "It’s been the honour of my life to represent the people of Burnaby Central," he said, acknowledging the challenges faced by the party and its candidates. Singh also emphasized the importance of continuing to fight for a fairer and more compassionate Canada.

Singh's leadership began in 2017, and he made history as the first person of an ethnic minority to lead a major Canadian political party. Despite early successes, including policy wins like pharmacare and dental care, the NDP struggled to maintain voter support in recent years. The party's decision to end its alliance with the Liberals in 2024 did not yield the anticipated electoral gains, leaving the NDP vulnerable to a resurgent Conservative Party and a Liberal Party under new leadership.

As the NDP prepares for a leadership transition, Singh's departure signals the end of an era. The party now faces the challenge of rebuilding its base and regaining its footing in Canadian politics.


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