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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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NATO Downs Second Iranian Missile Over Turkey

 

Debris of a NATO air defence system that intercepted a missile launched from Iran is seen in Dortyol, in southern Hatay province, Turkey, March 4, 2026 .


Turkey has confirmed that NATO air defences intercepted a second ballistic missile launched from Iran, marking the second such incident in less than a week. The missile entered Turkish airspace before being shot down over the southern region near Gaziantep, according to multiple defence statements. 

What Happened

  • The Turkish Ministry of Defence reported that NATO systems in the eastern Mediterranean successfully neutralized the incoming missile. Debris fell in Gaziantep province, but no casualties or major damage were reported.
  • This follows a similar interception days earlier, underscoring rising tensions as Iran continues retaliatory strikes amid the broader U.S.–Israel conflict. 

Regional and International Response

  • Turkey warned it would take “necessary steps without hesitation” against any threat to its airspace, signaling heightened alertness. 
  • NATO reiterated its readiness to defend all allies, emphasizing that this was the second missile intercepted in five days. 
  • The U.S. has urged its citizens to leave southeast Turkey due to escalating security concerns. 

Why It Matters

The repeated missile incidents highlight Turkey’s precarious position—geographically close to Iran, strategically tied to NATO, and increasingly exposed to spillover from the regional conflict. Each interception raises the stakes for Ankara as it balances deterrence, diplomacy, and domestic security.


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