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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...

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Canada’s Aid Cuts Leave Global Relief Efforts on the Brink


Canada’s decision to scale back foreign aid spending has sparked alarm among humanitarian organizations, who warn the move will have devastating consequences in crisis zones worldwide.

In its 2025 federal budget, Ottawa announced it would reduce international assistance by billions over the next four years, effectively rolling back support to pre-pandemic levels. The cuts will hit global health programs, food security initiatives, and humanitarian relief projects at a time when international needs are at an all-time high.

Relief agencies argue that the decision undermines Canada’s long-standing role as a reliable partner in global development. They stress that the cuts come amid rising authoritarianism, worsening climate impacts, and record humanitarian emergencies, making the timing particularly damaging.

The reductions also coincide with a massive shortfall in global aid funding. With major donors pulling back, aid groups fear millions of vulnerable people will lose access to lifesaving food, clean water, and medical supplies.

Critics say the move not only jeopardizes lives abroad but also weakens Canada’s own security and global standing. For frontline workers in conflict zones, refugee camps, and disaster-hit regions, the message is clear: Canada’s retreat from aid will be felt most by those who can least afford it.


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