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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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Rising Tensions as U.S. Threatens Expanded Strikes on Iranian Infrastructure

 

Smoke rises following a reported strike, as burning debris litters the surrounding area, amid the U.S.-Israeli conflict with Iran, in Baharestan, Isfahan province, Iran in this screengrab taken from a social media video released on April 1, 2026.


The United States has intensified its warnings toward Iran, signaling readiness to escalate attacks on key infrastructure as global powers work urgently to reopen the vital Strait of Hormuz. President Donald Trump stated that the U.S. military “hasn’t even started destroying what’s left in Iran,” emphasizing that bridges and electric power plants could be next targets. 

Nearly five weeks into the conflict, the U.S.-Israeli aerial campaign has already damaged critical sites, including the newly built B1 bridge near Karaj, where eight people were killed and 95 injured, according to Iranian state media. Iran has condemned the strikes on civilian structures, arguing they will not force surrender. 

Satellite imagery has shown smoke rising from Qeshm Island, a strategic point in the Strait of Hormuz, while Iran and its allies have continued retaliatory attacks across the Gulf region. Kuwait reported drone strikes on its Mina al-Ahmadi refinery, and Saudi Arabia intercepted multiple drones in recent hours. 

As dozens of nations push to restore energy shipments through the narrow waterway—through which a fifth of global oil typically flows—concerns are mounting over the conflict’s economic and humanitarian fallout. International law experts have also raised alarms about potential U.S. violations of human rights and humanitarian law amid the widening scope of the strikes. 

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