The Canadian Index

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Line chart comparing Bank of Canada and US Federal Reserve policy rates at each decision from January 2025 to September 2026.

The US Federal Reserve raised its policy rate on September 16, 2026, its first increase in three years, citing persistent energy and consumer price pressure. The Bank of Canada held on September 2, its seventh consecutive hold since an October 2025 cut. The two banks are reading the same energy shock differently: the Fed sees an inflation problem, while the Bank of Canada sees weaker growth compounded by tariffs. Canadian bond yields and fixed mortgage rates can still follow US Treasury yields.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart showing the TSX Composite retreating over 24 sessions as bond yields resumed climbing.

The TSX Composite gave back most of Thursday's post-Fed rebound by Friday, closing at 35,677.84 as bond yields resumed climbing.

TSX Gives Back Post-Fed Rally as Bond Yields Resume Climbing

September 18, 2026

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Bar chart showing gold and silver rising while the TSX and crude oil fell on September 18.

Six major markets split unevenly on September 18: silver rose 2.32 percent and gold 1.00 percent even as both Canadian and U.S.

Gold and Silver Rise With Yields, Breaking the Usual Pattern

September 18, 2026

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Line chart showing the Government of Canada five-year bond yield climbing through August and September.

Canadian headline inflation held at 3.0 percent year over year in August, matching July, but the underlying number worsened: inflation…

The Bond Market Already Moved Before the Bank of Canada Has To

September 21, 2026

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Line chart of the TSX Composite over the week the Fed hiked rates and the Bank of Canada held.

Two G7 central banks moved in opposite directions the week of September 15: the Federal Reserve raised its policy rate a quarter point to…

The Week the Bank of Canada's Own Rate Stopped Setting Canadian Borrowing Costs

September 19, 2026

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Bar chart breaking down August 2026 Canadian inflation components, showing gasoline far outpacing every other category.

Gasoline prices, driven higher by the Strait of Hormuz conflict, accounted for most of Canada's headline inflation reading in August, while…

Same Inflation Story, Two Opposite Central Bank Conclusions

September 16, 2026

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Line chart showing the S&P/TSX Composite index rebounding on a base metals rally on September 17, 2026.

The TSX Composite rebounded to about 35,858 on Thursday, led by base metals, a day after closing at its lowest level since July.

The Fed Called an Oil Shock Elevated the Same Day the BoC Found No Sign It Has Spread

September 17, 2026

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