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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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Fed Holds Rates Steady Amid Global Uncertainty, Signals Single 2026 Cut

 

                                            Federal Reserve Chair Jerome Powel


The Federal Reserve opted to keep its benchmark interest rate unchanged, maintaining the current range of 3.5% to 3.75%, marking its second consecutive pause of 2026. Policymakers cited elevated economic uncertainty—particularly stemming from geopolitical tensions in the Middle East—as a key factor behind the decision.

Steady Rates, Subtle Shifts

  • Fed officials reaffirmed expectations for one rate cut in 2026, consistent with projections made in December. 
  • The central bank acknowledged that the economic outlook remains clouded by global conflicts, including the Iran-related war, which continues to influence inflation and growth expectations. 
  • Updated economic projections show modest upward revisions to long-term growth and inflation forecasts, reflecting a cautiously optimistic stance despite ongoing risks. 

What This Means Going Forward

The Fed’s decision underscores a balancing act: supporting economic stability while remaining vigilant about inflationary pressures and geopolitical shocks. With only one rate cut projected for 2026, markets may continue to navigate a higher-for-longer rate environment as the central bank waits for clearer signals on inflation and global stability.

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