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5 Things to Know Today: BoC Decision Day, Fed, Loonie, Tariff Talks and OAS Boost

  Canadian Money Brief 5 Things to Know Today Wednesday, October 28, 2026 It’s a heavy day for Canadian wallets. The Bank of Canada announces its rate decision this morning, the U.S. Fed follows this afternoon, tariff talks are heating up, and bigger OAS deposits land in bank accounts. Here’s what to know. 1 The Bank of Canada decides this morning — a hike is widely expected The decision lands at 9:45 a.m. ET, along with a new Monetary Policy Report. Markets and economists expect a quarter-point increase to 2.50% from 2.25%, which would be the first hike since July 2023. Nineteen of 34 economists in a Reuters poll called for the move, and investors were pricing roughly a 75% chance on Tuesday. The case for it: inflation hit 3.1% in September, driven almost entirely by energy, even as core measures eased below 2%. What it means for you A hike would likely lift prime rates quickly, so variable-rate mortgages and HELOCs feel it first. Roughly, 0.25 points adds about $250 a year per $...
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Gaza Ceasefire Talks End with No Breakthrough Ahead of Ramadan

 

Ceasefire negotiations between Hamas and mediators concluded in Cairo without any significant progress. With just days remaining before the start of Ramadan, the urgency to halt the fighting in the Gaza Strip remains critical.

During the two-day talks, Hamas presented its proposal for a ceasefire agreement, but the Israeli delegation chose to stay away from this round. Senior Hamas official Bassem Naim expressed frustration, stating, “Prime Minister Benjamin Netanyahu doesn’t want to reach an agreement, and the ball now is in the Americans’ court” to press for a deal.

Israel has not officially commented on the Cairo talks. However, their stance remains firm: they demand that Hamas provide a list of 40 elderly, sick, and female hostages who would be the first to be released as part of an initial six-week truce. Meanwhile, Hamas insists on allowing large-scale humanitarian aid into Gaza and facilitating the return of Palestinians displaced from their homes in the northern part of the coastal strip.

As the Muslim holy month of Ramadan approaches, the situation remains precarious. The informal deadline for a deal looms, and the fate of civilians caught in the conflict hangs in the balance. While the world watches, the hope is that diplomatic efforts will yield results and prevent further suffering.


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