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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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Regional Tensions Erupt as Iran Strikes Back After Massive Assault

 

              The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz

Iran launched a series of retaliatory strikes on military bases and naval vessels across the region following what officials in Tehran described as the most intense wave of attacks on its territory in years. The escalation marks one of the most dangerous moments in the ongoing confrontation, raising fears of a broader conflict that could destabilize the Middle East.

According to regional sources, Iran targeted multiple sites linked to foreign forces, including positions believed to support recent operations against Iranian infrastructure. While the full extent of the damage remains unclear, early reports suggest both sides sustained losses, and several governments have begun urgent diplomatic consultations.

Iranian officials framed the response as a necessary act of self‑defense, insisting that continued pressure would be met with “decisive and proportional” action. Meanwhile, international observers warn that the cycle of retaliation risks spiraling beyond the control of any single actor.

As governments call for restraint, analysts note that the coming days will be critical in determining whether the situation cools or accelerates toward a wider confrontation.


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