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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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RESP: A Smart Way to Save for Schooling.


RESP is a great way to save for schooling. RESP stands for Registered Education Savings Plan. It is a government-sponsored investment account that helps parents save for their child’s post-secondary education. One of the key benefits of RESP is that it allows your savings to grow tax-free until the funds are withdrawn. This means that any investment income earned within the RESP is not subject to tax as long as it remains in the plan. Additionally, the government provides grants and incentives to encourage parents to save for their child’s education. For example, the Canada Education Savings Grant (CESG) matches 20% of the contributions made to an RESP, up to a maximum of $500 per year. This can significantly boost your savings over time.


RESPs offer flexibility in terms of investment options. You can choose from a wide range of investment products such as mutual funds, stocks, bonds, and guaranteed investment certificates (GICs). This allows you to tailor your investment strategy based on your risk tolerance and financial goals. Moreover, when it comes time to withdraw funds from the RESP, the earnings are taxed in the hands of the student, who typically has little or no income. Since students usually have a lower tax rate than their parents, this can result in significant tax savings.


In summary, RESP is an excellent way to save for schooling as it offers tax advantages, government grants, and investment flexibility. It provides parents with a structured and efficient means of saving for their child’s post-secondary education while maximizing their savings potential.

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