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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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Canada Quietly Lays Groundwork for Golden Dome Defense Initiative

The Golden Dome, a yet-to-be-built air defence system, was first proposed by Trump earlier this year, and would use a network of radar, sensors and weapons to protect North America from attacks.

Canada has been preparing for years to align with the United States on the ambitious Golden Dome missile defense system, according to Major-General J.D. Smyth, Canada’s top NORAD air defence commander.

Speaking recently, Smyth emphasized that Canada’s modernization of its Arctic defences and North American Aerospace Defense Command (NORAD) infrastructure has been deliberately structured to support a system like Golden Dome. The U.S.-led initiative, inspired by Israel’s Iron Dome, aims to create a multi-layered shield against drones, hypersonic weapons, and nuclear-capable missiles.

Although Ottawa has not formally committed to the project, Smyth noted that Canada’s nearly $40-billion investment in radar, command-and-control systems, and interceptor capabilities is already laying the foundation for integration. He stressed that the shared geography of the Arctic makes bilateral cooperation essential, particularly as global conflicts and advanced weaponry reshape the threat landscape.

While supporters frame Golden Dome as a bold step toward continental security, critics warn of its high costs, technical uncertainties, and the potential to escalate tensions with nuclear-armed rivals. For Canada, the decision represents a pivotal moment: whether to deepen its role in U.S. missile defense or maintain its long-standing caution toward such programs.



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