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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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Canada Pauses Private Refugee Sponsorship Applications Until 2026


The Canadian government has announced a temporary pause on private refugee sponsorship applications from groups of five or more people and community organizations. This measure, effective immediately, will last until December 31, 2025. The decision aims to address the growing backlog of applications and improve processing times for both refugees and sponsors.

Immigration, Refugees and Citizenship Canada (IRCC) stated that the number of applications received annually far exceeds the available spaces for private refugee sponsorships. The government has set a target of admitting 23,000 privately sponsored refugees in its 2025-27 immigration plan, while the total refugee target for next year is just over 58,000 people. As of the end of October, there are over 85,000 pending refugee claims.

IRCC recognizes that this measure will impact the refugee sponsorship community and has pledged to work closely with partners and stakeholders to adjust to these changes and explore long-term improvements to the program. The pause will allow the system to catch up with the existing workload and ensure a more efficient and predictable refugee sponsorship process in the future.

For more information, visit the [IRCC website](https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/temporary-pause-intake-refugee-sponsorship-applications-groups-five-community-sponsors.html).







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