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5 Things to Know Today: Fed Decision Looms, TSX Slides, Gas Prices Climb (Sept 16)

  Wednesday, September 16, 2026 The Fed's biggest decision in years lands at 2 p.m. ET today, the TSX and loonie are both licking their wounds, and drivers are paying more at the pump despite the gas tax holiday. Here's what's moving your money this morning. 1. The Fed Decides on Rates Today — and a Hike Looks All but Certain The Federal Reserve announces its rate decision at 2 p.m. ET, with Chair Kevin Warsh's press conference to follow at 2:30 p.m. Markets have priced in over 90% odds of a 25-basis-point hike, which would lift the target range to 3.75%–4.00% from 3.50%–3.75%, where it's sat since December. It would be the first hike of this cycle, driven by inflation still running above target even as the labour market holds up. What it means for you: A Fed hike widens the gap with the Bank of Canada's 2.25% rate, which tends to pressure the loonie lower and nudge Canadian bond yields — and by extension fixed mortgage pricing — upward. Watch for the reaction ...
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Tensions Escalate: Pakistan Warns of Imminent Indian Strike


In a significant development, Pakistan's Information Minister, Attaullah Tarar, has claimed that the country possesses "credible intelligence" indicating that India plans to launch a military strike within the next 24 to 36 hours. This assertion comes amidst heightened tensions between the two nuclear-armed neighbors following a deadly attack in Indian-administered Kashmir that claimed 26 lives.

Tarar stated that India intends to use the recent Pahalgam incident as a pretext for aggression, a claim that India has not yet commented on. Pakistan has denied any involvement in the attack and has called for a neutral investigation. Meanwhile, both nations have taken retaliatory measures, with India suspending the Indus Waters Treaty and Pakistan closing its airspace to Indian flights.

The situation has drawn international attention, with fears of escalation between the two countries. Pakistan has warned that any act of aggression will be met with a decisive response, emphasizing that India would bear full responsibility for any consequences in the region.

The unfolding events underscore the fragile relationship between the two nations, with the world watching closely for further developments.

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