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Budget Day 2026: What a $63B+ Deficit Means for Your Wallet

  Canadian Money Brief • Thursday, November 5, 2026 Ottawa tables its second Carney-era budget today. Almost everyone expects big spending. Hardly anyone expects it to help their own bank account. Here is what the numbers say, and what to do about it. Finance Minister François-Philippe Champagne says today’s budget is about “changing Canada’s growth model”: less reliance on the U.S., more building at home. That is a big-picture pitch. Your household budget is a small-picture problem, and a new Abacus Data poll shows the gap between the two is wide. The poll in one line: only 10% of Canadians expect Budget 2026 to make their household better off. 30% expect to be worse off, and 48% expect little difference. (Abacus Data, 1,809 adults, Oct. 30 to Nov. 3.) The deficit, in plain numbers The Parliamentary Budget Officer (PBO) is the government’s independent fiscal referee. Its latest outlook, which predates the budget and only counts measures already announced, sets the stage: PBO proj...
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TSX Futures Slip as Markets Brace for Key Economic Data

 

                                        The facade of the original Toronto Stock Exchange building is seen in Toronto.


Futures tied to Canada’s main stock index edged lower Friday, with investors turning cautious ahead of domestic GDP figures and a closely watched U.S. inflation report. As of early morning trade, S&P/TSX index futures were down 0.21%.

The pullback comes after the benchmark index ended flat on Thursday, as traders locked in profits from earlier gains driven by strong bank earnings. Markets are now focused on the U.S. personal consumption expenditures (PCE) price index — the Federal Reserve’s preferred inflation gauge — due later today. The data could influence expectations for a September interest rate cut, with current odds at over 85%.

In Canada, June GDP is expected to show a modest 0.1% monthly gain, but second-quarter growth is forecast to contract 0.6% on an annualized basis. The figures will be closely watched for signs of tariff impacts and to gauge the Bank of Canada’s next policy move.

Oil prices slipped on demand concerns as the U.S. summer driving season winds down, though they remain on track for a weekly gain. Gold prices also eased but are set for a monthly advance.

Canada’s benchmark index is heading toward its fourth consecutive monthly gain, supported by easing trade tensions and resilient corporate earnings.

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