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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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Your daily horoscope: July 2, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Mercury moves into the financial area of your chart on your birthday, so your thoughts will be drawn to matters relating to what you own and what you earn. Remember, making money is not a sin, especially if it buys the freedom to do exciting things.

ARIES (March 21 - April 20):

It is of the utmost importance that you permit yourself to be open to alternative viewpoints, even when some of those viewpoints are massively at odds with your own. Unless you listen to what other people say how will you ever come to understand them?

TAURUS (April 21 - May 21):

There is no point resisting something that is going to happen whether you agree with it or not. Instead, look ahead and try to work out what the consequences might be, then come up with ideas as to how you can make them work for you.

GEMINI (May 22 - June 21):

You must not take anything for granted now, especially where money matters are concerned. In fact, this is one of those times when it would be wise to be suspicious of people who say they can help with your problems. It’s more likely they will help themselves!

CANCER (June 22 - July 23):

You don’t have to do anything special today but you do have to be aware that what friends and family members decide to do is going to impact you in some way. There is no way of knowing if that will be for the better or for the worse.

LEO (July 24 - Aug. 23):

It will seem as if a great weight has been lifted from your shoulders today and the feeling of freedom you get will encourage you to do something outrageous. Don’t make it too outrageous though or that weight on your shoulders could soon be back!

VIRGO (Aug. 24 - Sept. 23):

Anyone who believes that you are insensitive to other people’s feelings will have to think again today as you show a great deal of empathy for someone who is down on their luck. Your words of compassion and encouragement will do your image no harm at all.

    LIBRA (Sept. 24 - Oct. 23):

    You seem to believe that everyone is against you at the moment but is that true or have you allowed a negative mindset to take hold for no good reason? Start thinking and acting as if everyone is your friend and see how that changes the picture.

    SCORPIO (Oct. 24 - Nov. 22):

    You are trying to control so many things at the moment that you risk losing control of the lot. Instead of worrying about every last issue, focus on your three main areas of interests and forget about everything else until those three have been resolved.

    SAGITTARIUS (Nov. 23 - Dec. 21):

    You will need to be gentle with someone who is feeling rather fragile at the moment. They are unlikely to respond well to your usual “get a grip on yourself” attitude, so try sympathizing with their problems instead. A caring approach may actually work.

    CAPRICORN (Dec. 22 - Jan. 20):

    If a colleague comes up with an idea you wish you had thought of yourself there is no reason why you should not adopt it and adapt it to your own needs. There is no copyright on ideas, although there is the risk you might lose a friend.

    AQUARIUS (Jan. 21 - Feb. 19):

    Try to keep routine tasks to a minimum over the next 24 hours because you need to give yourself time to think about some of the deeper questions of life and you won’t be able to do that if you are immersed in housework. Do the cleaning tomorrow.

    PISCES (Feb. 20 - Mar. 20):

    As Neptune, your ruler, begins its retrograde phase today you may find that you no longer care about matters that used to either inspire or enrage you. Life is too short to waste time on issues that cannot be resolved, at least not in this lifetime.

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