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5 Things to Know Today: BoC Minutes, U.S. CPI and Cheaper Gas (Nov. 8, 2026)

  Canadian Money Brief • Sunday, November 8, 2026 Markets are closed until Monday, but the week ahead is loaded: two Bank of Canada releases, a key U.S. inflation report and some welcome relief at the pump. Here are five things to know today, and what each means for your wallet. 1. Two Bank of Canada releases land early this week The Bank of Canada publishes its Q3 Market Participants Survey Monday at 10:30 a.m. ET, then the summary of deliberations behind its Oct. 28 rate decision Tuesday at 1:30 p.m. ET. The Bank raised its policy rate 25 basis points to 2.50% that day, its first hike since July 2023, and signalled more tightening was possible if energy costs spill into broader prices. The minutes were written before the post-midterm oil drop, so watch how hawkish the tone is. What it means for you: If you have a variable-rate mortgage or a HELOC, the minutes help show whether another hike is on the table at the next decision on Dec. 9. A hawkish read keeps pressure on borrowin...

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Trump Tells Allies to ‘Take’ Oil from Strait of Hormuz Amid Rising Tensions

 

Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance.


U.S. President Donald Trump has escalated rhetoric over the ongoing crisis in the Strait of Hormuz, urging countries struggling with fuel shortages to “just take” oil from the disrupted waterway. His comments, delivered via Truth Social, targeted nations such as the United Kingdom and France, which he criticized for not participating in U.S.-Israeli military actions against Iran. 

Trump argued that countries dependent on oil shipments through the strait should either purchase American oil or assert themselves militarily to secure their own supply. The month‑long conflict has sharply driven up global energy prices and nearly halted tanker traffic as Iran effectively closed the strategic passage. 

Reiterating that the U.S. would no longer “fight for” nations that did not support its operations, Trump insisted the “hard part is done” and encouraged allies to take responsibility for their energy security. His remarks have added to international unease as global markets continue to react to the instability in one of the world’s most critical oil corridors. 


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