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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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UK Scrambles to Contain Market Turmoil as Iran Conflict Escalates

 

                       Keir Starmer speaks during Prime Minister's Questions at the House of Commons in London


Prime Minister Keir Starmer has convened an emergency COBRA meeting as the economic fallout from the escalating Iran conflict intensifies. The move comes after sharp declines in UK financial markets, with government borrowing costs surging to their highest levels since the 2008 global financial crisis. 

The conflict has rattled global markets, particularly after Iran warned it may target the energy and water infrastructure of Gulf nations if the United States follows through on threats to strike Iran’s electricity grid. Investors reacted swiftly, pushing British bonds into a steeper decline than those of international peers, reflecting the UK’s vulnerability due to high inflation, heavy reliance on imported natural gas, and already‑strained public finances. 

Starmer has instructed officials to examine “every lever” available to stabilize the economy as oil and gas prices continue to surge, raising fears of renewed inflation and recessionary pressure. The FTSE 100 has already fallen more than 11% since late February, erasing all gains made earlier in the year. 

Senior ministers, including Finance Minister Rachel Reeves and Bank of England Governor Andrew Bailey, are expected to attend the meeting as the government prepares for what could be another turbulent week in global markets. 


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