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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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Fashion Farewell: Ted Baker, Brooks Brothers, and Lucky Brand Close Shop

 

In a significant turn of events, three iconic clothing retailers—Ted Baker, Brooks Brothers, and Lucky Brand—are bidding farewell to their Canadian stores. Let’s delve into the details of these closing sales and their impact on the retail landscape.

1. Ted Baker Canada: Ted Baker, known for its British style and attention to detail, has initiated store-closing clearance sales across its Canadian and U.S. locations. The brand’s entire collection is now marked down, offering shoppers a chance to snag their favorite pieces at discounted prices. The fate of Ted Baker’s stores remains uncertain, but the sales are in full swing. Online shopping has been temporarily suspended during this transition.

2. Brooks Brothers Canada: Brooks Brothers, a 202-year-old clothier, faces a similar fate. The company’s Canadian assets are now part of its parent company’s U.S. bankruptcy proceedings. The luxury clothing retailer plans to sell its inventory to SPARC Group LLC, which acquired Brooks Brothers and its affiliates for $325 million. Thirteen Brooks Brothers stores in Canada will be closing, with the possibility of more closures during the bankruptcy process.

3. Lucky Brand: Lucky Brand Dungarees, a denim retailer, has also filed for bankruptcy protection. The pandemic played a role in their financial struggles, leading to the decision to sell the company. Lucky Brand plans to close 13 stores, and additional closures may occur during the bankruptcy proceedings. Lucky’s Canadian locations are part of this restructuring, signaling the end of an era for the brand.

These closures mark a significant shift in the retail landscape, leaving fashion enthusiasts reminiscing about the unique styles and memories associated with these beloved brands. As the doors close, shoppers have a final chance to grab a piece of fashion history before these storied names fade into the past.

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