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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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Markets Reel as Trump Signals Intensified Iran Strikes, Dimming Hopes for Quick Resolution

U.S. President Donald Trump gestures after delivering an address to the nation about the Iran war at the White House.

Tensions in the Middle East escalated further after U.S. President Donald Trump vowed to intensify military operations against Iran over the next two to three weeks, a declaration that rattled global markets and dashed hopes for a swift end to the conflict. 

Oil prices surged sharply following the speech, with Brent crude jumping around 5–6% as investors reacted to the lack of clarity on reopening the critical Strait of Hormuz, a key global energy corridor now largely shut due to the conflict. Stocks across the U.S., Europe, and Asia fell in response, reflecting deepening concerns about prolonged instability and its economic fallout. 

Trump’s remarks, which included warnings of “extremely hard” strikes and potential escalation if Iran does not meet U.S. terms, signaled no immediate path toward de-escalation. Meanwhile, Iran and its allies issued their own warnings of broader retaliation, underscoring the risk of a widening regional conflict. 

With no concrete timeline for ending hostilities and energy markets already strained, global uncertainty continues to mount—leaving investors, governments, and civilians bracing for what comes next.

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