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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...
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Uncertainty Looms Over $250 Rebate Cheques as Freeland Faces Opposition

 

The fate of the proposed $250 rebate cheques for Canadians remains uncertain as Deputy Prime Minister Chrystia Freeland expressed disappointment over the lack of support from opposition parties. The cheques, intended for Canadians who worked and earned up to $150,000 in the past year, were initially part of the federal government's plan to ease affordability concerns alongside a two-month holiday on GST and HST for certain items.

Despite the Liberals' efforts to push the tax break bill through Parliament, the rebate cheques were notably absent from the stand-alone bill presented on Wednesday. Freeland cited the minority status of the government and the inability to secure the necessary support from opposition parties as the primary reasons for this omission.

The proposal initially seemed to have backing from the NDP, but Leader Jagmeet Singh later stated that his party would not support the rebates unless they were expanded to include more Canadians, such as seniors, students, and people with disabilities who were not working last year. Prime Minister Justin Trudeau criticized the NDP for their stance, arguing that it undermines the support for hardworking Canadians.

As the government continues to navigate these political challenges, the future of the $250 rebate cheques remains in limbo, leaving many Canadians uncertain about the promised financial relief.


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