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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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Tehran Rejects Trump’s Ceasefire Claim Amid Escalating Tensions

 

People attend a funeral ceremony for the Revolutionary Guards Navy Commander Alireza Tangsiri, who was killed in a reported Israeli strike, in Tehran.


Iran has firmly denied U.S. President Donald Trump’s assertion that Tehran requested a ceasefire, calling the claim “false and baseless” as conflict in the region continues to intensify. 

Iran Pushes Back Against U.S. Narrative

Iran’s Foreign Ministry spokesperson Esmaeil Baqaei dismissed Trump’s statement, which appeared in a Truth Social post asserting that Iran’s “new regime president” had asked Washington for a ceasefire. Iranian state media echoed the rejection, emphasizing that no such request had been made. 

Strait of Hormuz at the Center of the Dispute

Trump said the U.S. would only consider a ceasefire once the Strait of Hormuz is “open, free, and clear,” while threatening continued military action. Iran’s Revolutionary Guard countered by insisting the strategic waterway remains firmly under its control and will not be opened under U.S. pressure. 

Rising Global Stakes

The closure of the Strait—through which roughly one-fifth of the world’s oil passes—has already driven up global energy prices. Meanwhile, Trump has suggested the U.S. campaign in Iran may end within weeks, though officials have hinted at possible further escalation. 

Tehran’s Position Remains Unchanged

Iran maintains it is not engaged in ceasefire negotiations and insists it will continue defending itself. Officials have reiterated that any future ceasefire would require guarantees that hostilities will not resume. 

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