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Weekly Market Snapshot: TSX Slips 0.5% as the BoC Hikes and a Friday Tech Rout Rattles Markets (Oct 26–30)

Canadian Money Brief Weekly Market Snapshot Week of October 26–30, 2026. Published Saturday, October 31, 2026. The Bank of Canada raised interest rates for the first time in more than three years, but it was a brutal Friday on both sides of the border that decided the week. The S&P/TSX Composite closed at 35,620.03 , down 0.5% on the week, after a 629-point (1.74%) slide on Friday as a global tech sell-off swept through markets. Wall Street fared worse: the Nasdaq lost 2.0% on the week and finished its worst month since March 2025. Oil climbed to a six-month high, and gold sank to a one-year low. The week in five lines TSX: −0.5% on the week, +1.1% in October.   BoC: hiked to 2.50%; the Fed held at 3.75%–4.00%.   Oil: WTI at US$104.12.   Gold: briefly under US$3,900, a one-year low.   Loonie: 71.63¢ US, near a six-week high. The Scoreboard: Closing Levels, Friday, October 30 Canada Index Close Friday Week S&P/TSX Composite 35,620.03 −1.74% −0.47% United ...
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Trudeau Announces $15 Billion Boost to Housing Program

 

Prime Minister Justin Trudeau has unveiled plans for a $15 billion increase to the Apartment Construction Loan Program (ACLP) as part of Budget 2024. This significant boost aims to construct a minimum of 30,000 new apartments across Canada.

As part of this announcement, the Prime Minister also introduced the Canada Builds program. This initiative will partner with provinces and territories to build rental housing, providing federal financing under certain conditions. These conditions include complementing federal funding with their own investments, utilizing government, non-profit, community-owned, and vacant lands, and streamlining development approval timelines to no longer than 18 months.

The Apartment Construction Loan Program, launched in 2017, has already committed over $18 billion in loans to support the creation of more than 48,000 new rental homes. With this top-up, the program’s financing is now on track to build over 131,000 new apartments within the next decade. Reforms announced alongside this boost include extending loan terms and broadening access to financing for housing aimed at students and seniors.

This move represents a significant step toward addressing Canada’s housing challenges and ensuring affordable housing options for citizens. As the country continues to grow, initiatives like the ACLP play a crucial role in meeting the housing needs of Canadians.


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