The Bank of Canada held rates steady this week, but the tone of its statement revealed something important about the inflation challenge ahead. Philip Petursson, Chief Investment Strategist at IG Wealth Management, examines why raising rates during a period of oil-driven supply shock could do more harm than good. He explains how higher oil prices act as a tax on consumers, why the Canadian economy is already showing signs of fatigue and what this means for the probability of rate cuts before year-end. Plus, he shares insights on how a potential policy divergence between Canada and the U.S. could pressure the loonie toward the lower end of its projected range.

After oil spiked above $119 and markets panicked, the waters have calmed a little. Philip Petursson, Chief Investment Strategist at IG Wealth Management, discusses whether the current energy crisis will be a temporary operational shock or a lasting supply break. He explains that the system is clogging rather than cutting off completely, how supply-driven shock differs from demand overheating, and what signals investors should monitor to distinguish whether this is just short-term volatility or if the impact could be longer lasting.

How will the latest geopolitical tensions among Iran, the United States and Israel affect global markets? Philip Petursson, Chief Investment Strategist at IG Wealth Management, provides a thorough analysis. He explains why the Strait of Hormuz is essential for oil supply, how Canadian equities could benefit from elevated oil prices and why maintaining disciplined investing is important during periods of volatility.