---
title: September 4, 2026 - Risk management
description: The Bank of Canada remains focused on risks and stays on the sidelines for a seventh straight meeting
image: https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/og/OG_McMahon_1200x628_EN.jpg
---

[![iA Groupe financier - Facebook](https://mcmahon.ia.ca/hubfs/Commun/logos/inverse/logo-i-a-horizontal-inverse-fr.png)](https://ia.ca/individuals)

Toggle navigation

[Macro playlist](https://mcmahon.ia.ca/en/october-16-2026-inflation-is-back) [About us](https://mcmahon.ia.ca/en/about-us)

[Subscribe to the newsletter](https://mcmahon.ia.ca/en/newsletter-subscription) [fr](https://mcmahon.ia.ca/4-septembre-2026-gestion-des-risques)

# Macro Playlist

 The economic ideas driving markets.

 Every week, Sébastien Mc Mahon and his team deliver their carefully selected economic analyses and market outlooks.

## September 4, 2026 - Risk management

x

Partager l'édition via

 Copy link

<https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fmcmahon.ia.ca%2Fen%2Fseptember-4-2026-%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin>

LinkedIn

<https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fmcmahon.ia.ca%2Fen%2Fseptember-4-2026-%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fmcmahon.ia.ca%2Fen%2Fseptember-4-2026-%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=>

X

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/animated_images.svg)

## Opening Track

The week in review

This week, the Bank of Canada remains focused on risks and stays on the sidelines for a seventh straight meeting.

<iframe class="opening-video margin-bottom-36" src="https://www.youtube.com/embed/RZ68LcSNU8I?si=z6h5MZySWmGn6rwf"></iframe>

[Download slides](https://mcmahon.ia.ca/hubfs/Hebdo_20260904_EN.pdf)

<iframe style="border-radius: 12px; margin: 0px auto; display: block;" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture" xml="lang" src="https://open.spotify.com/embed/playlist/4ffEtbOVvGSPEhZyrdL6XT?utm_source=generator&amp;theme=0" width="560" height="352" frameborder="0" allowfullscreen loading="lazy" data-testid="embed-iframe"></iframe>

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/vital_signs.svg)

## Top of the Charts

Chart of the Week | Building cars for Canadians

The White House wants to bring auto production back to the United States. Canada’s natural response is to figure out how to preserve access to the U.S. market. But what if we asked a different question: why shouldn’t Canada build more of the vehicles Canadians are already buying?

The paradox is striking. Canadians bought nearly 2 million new vehicles in 2025. Meanwhile, Canadian plants produced nearly 1.3 million vehicles in 2024, but only 9.4% of that production remained in Canada. At the same time, according to the Canadian government, more than 40% of the vehicles sold in Canada are assembled in the United States. Canada has significant production capacity, but it is primarily geared toward foreign markets, while a large share of our own market is supplied by U.S. plants.

Canada cannot replace the massive U.S. market. But it can use its own market as leverage. Preferential access to Canadian consumers should be tied to production and investment in Canada. The auto strategy of the future could be simple: invite new European and Asian partners to build more of the vehicles we already drive right here in Canada. Washington wants “America First.” Nothing is stopping Ottawa from responding: Canada first, but not Canada alone.

Sources: Statistics Canada, U.S. International Trade Commission

![Chart Auto sales & Exports EN](https://mcmahon.ia.ca/hs-fs/hubfs/Chart%20Auto%20sales%20%26%20Exports%20EN.png?width=800&height=600&name=Chart%20Auto%20sales%20%26%20Exports%20EN.png)

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/brand_awareness.svg)

## New Releases

Read our latest publications

### Macro & Strategy Monthly - September 2026

 « I’ll Sleep When I’m Dead » - Canada’s economy isn’t done yet 

[Read here](https://files.ia.ca/-/media/files/gestion-mondiale-dactifs/content/2026/20260902/2026-09_monthly-macro-strategy_en.pdf)

### White paper: Higher Ground

 Where the money goes in the AI economy, and where it is heading 

[Read here](https://files.ia.ca/-/media/files/gestion-mondiale-dactifs/content/2026/20260820/2026-08_ai_en.pdf)

## Soundtrack

This week, we add more Bon Jovi the Macro Playlist!

<iframe class="sound-track-video" src="https://www.youtube.com/embed/ts-e0uZfooQ?si=aG-I0WFfzYhm5lAc"></iframe>

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/cards_star.svg)

## Featured on Air

Quick access to our latest media appearances

### For a cut we'd 'have to see a collapse' in business confidence, hiring & economic momentum: Mc Mahon

 BNN Bloomberg – September 2 2026 

[Access here](https://www.bnnbloomberg.ca/video/shows/morning-markets/2026/09/02/for-a-cut-wed-have-to-see-a-collapse-in-business-confidence-hiring-economic-momentum-mc-mahon/)

### Bank of Canada Expected to Remain On Hold as Trade Conflict With U.S. Escalates

 WSJ – September 1 2026 

[Access here](https://www.wsj.com/economy/central-banking/bank-of-canada-expected-to-remain-on-hold-as-trade-conflict-with-u-s-escalates-fcf9659c)

<iframe style="border-radius: 12px; margin: 0px auto; display: block;" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture" xml="lang" src="https://open.spotify.com/embed/playlist/4ffEtbOVvGSPEhZyrdL6XT?utm_source=generator&amp;theme=0" width="560" height="352" frameborder="0" allowfullscreen loading="lazy" data-testid="embed-iframe"></iframe>

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/Sebastien_McMahon.png)

## Sébastien Mc Mahon

Chief Economist, iA Financial Group

![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/Etienne_Bergeron.png)

## Étienne Bergeron

Economist, iA Financial Group

[About the team](https://mcmahon.ia.ca/en/about-us)

## Archives

![mail](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/mail.svg)

## Stay informed

Get the Macro Playlist delivered straight to your inbox every week and stay up to date on the trends shaping the markets.

[Subscribe to the newsletter](https://mcmahon.ia.ca/en/newsletter-subscription)

| [Follow us](https://mcmahon.ia.ca/en/about-us) |
| --- |

<https://x.com/SebMcMahon_IA> <https://www.linkedin.com/in/sebastien-mc-mahon-bb063327/> <https://www.youtube.com/IAquebec>

| [français](https://mcmahon.ia.ca/4-septembre-2026-gestion-des-risques) |
| --- |

© 2026 Industrial Alliance Insurance and Financial Services Inc. – iA Financial Group. All rights reserved.

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Sébastien Mc Mahon",
    "url" : "https://mcmahon.ia.ca/en/author/sébastien-mc-mahon"
  },
  "dateModified" : "2026-10-07T13:57:39.542Z",
  "datePublished" : "2026-09-04T17:52:06.000Z",
  "headline" : "September 4, 2026 - Risk management",
  "image" : [ "https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/og/OG_McMahon_1200x628_EN.jpg" ],
  "mainEntityOfPage" : {
    "@id" : "https://mcmahon.ia.ca/en/september-4-2026-",
    "@type" : "WebPage"
  },
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "url" : "https://mcmahon.ia.ca/hubfs/iafg-bimi%20300x300.png.png"
    },
    "name" : "Industrielle Alliance, Assurance et services financiers inc et ses filiales."
  }
}
```