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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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High-Stakes Diplomacy: Carney and Trump Meet Amid Trade Tensions

Canadian Prime Minister Mark Carney is set to meet U.S. President Donald Trump at the White House today, marking a pivotal moment in Canada-U.S. relations. The meeting comes as Carney seeks to navigate a complex diplomatic landscape, with trade tariffs and security concerns at the forefront of discussions.

Carney, who recently won a minority Liberal government, has emphasized that while the meeting is crucial, no immediate agreements should be expected. "We do not expect white smoke out of that meeting," he stated, signaling that negotiations will be a long and intricate process.

Trump, known for his hardline stance on trade, has imposed tariffs on Canadian industries, including steel, aluminum, and automobiles. His recent proposal of a 100% tariff on foreign film production has further strained relations, raising concerns among Canadian business leaders. Additionally, Trump's repeated suggestions that Canada should become part of the U.S. have fueled tensions, prompting Carney to firmly reject any threats to Canadian sovereignty.

Diplomatic and business leaders have warned that the outcome of this meeting could have lasting consequences. British Columbia Premier David Eby urged Carney to stand firm, emphasizing the importance of protecting Canada's economic interests. Meanwhile, trade experts suggest that a rushed deal could be detrimental to Canada, advocating for a strategic approach to negotiations.

As Carney and Trump engage in discussions, the world watches closely, anticipating the next chapter in the evolving Canada-U.S. relationship. Whether this meeting will pave the way for a new trade-security framework or deepen existing tensions remains to be seen.

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