Thursday, August 27, 2026
Canada's Big Six banks finish reporting this morning, the country's own retaliatory tariffs are now in effect, and the world's central bankers are descending on Wyoming. Here's what actually matters for your wallet today.
1. RBC, TD and CIBC round out bank earnings week
Royal Bank, TD and CIBC all reported third-quarter results before the opening bell today, closing out a week that already saw a strong quarter from Scotiabank (adjusted net income up 21% year over year) and a beat-but-sold-off report from National Bank on Wednesday. BMO and Scotiabank both flagged mortgage renewals as broadly manageable so far, even with a large share of loans rolling onto new rates over the next 12 months.
What it means for you: If you're renewing a mortgage in the next year, the banks' own numbers suggest most borrowers are absorbing higher payments rather than falling behind — but "most" isn't "all." If a renewal is coming up, it's worth running your new payment now rather than waiting for the offer letter.
2. TSX holds near record territory despite a soft Wednesday
The TSX closed essentially flat at 36,814 on Wednesday, as gold miners pulled back (Agnico Eagle, Barrick and Wheaton Precious Metals all lower) after a hotter-than-expected U.S. inflation reading tempered hopes for the metal's rally. Nvidia's after-hours earnings beat lifted U.S. futures overnight and gave Asian and European markets a lift heading into Thursday.
What it means for you: If your TFSA or RRSP has a heavy gold-miner weighting from this year's rally, days like Wednesday are a reminder that commodity gains can reverse quickly — a good prompt to check you're not overexposed to one sector.
3. Canada's retaliatory tariffs are now in effect
The roughly $20-billion package of Canadian counter-tariffs on U.S. autos, furniture, plastics, plywood and electrical equipment took effect this week, matching Washington's own duties on the same categories. Ottawa has paired the move with a $7.5-billion support package for affected workers and businesses.
What it means for you: These tariffs hit goods coming into Canada from the U.S. — so if you're planning a big-ticket purchase in one of the named categories (say, U.S.-made furniture or appliances), price it out before and after to see if the tariff has already worked its way into the sticker price.
4. Jackson Hole opens today, with all eyes on Friday
The Kansas City Fed's annual economic symposium runs today through Saturday in Jackson Hole, Wyoming, but the moment that matters is Friday morning: new Fed Chair Kevin Warsh delivers his first keynote in the role at 10 a.m. ET. With 30-year Treasury yields near two-decade highs and July's Fed vote split 9-3 — the widest gap in roughly 20 years — investors are watching for any hint of where rates go next.
What it means for you: U.S. rate signals ripple into Canadian bond yields and mortgage pricing even when the Bank of Canada holds steady. Worth keeping half an eye on Friday's headlines if you're locking in a rate soon.
5. The gas tax holiday has 11 days left
The federal fuel excise tax suspension — 10 cents a litre off gasoline, 4 cents off diesel — is set to expire September 7. The national average has been drifting up in recent weeks, running around $1.75 a litre as of the most recent CAA reading.
What it means for you: A full tank on a typical car works out to a few dollars more once the tax is back — not huge on its own, but worth timing your next fill-up before Labour Day weekend if you're topping up anyway.
This article is for general information and isn't personalized financial advice. Talk to a licensed advisor about your specific situation.
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