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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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Speaker Kicks Poilievre Out of the Commons After He Calls PM a ‘Wacko’ in Tense Question Period Exchange

In a heated exchange during question period, Conservative Leader Pierre Poilievre was kicked out of the House of Commons by Speaker Greg Fergus. The incident occurred after Poilievre referred to Prime Minister Justin Trudeau as a “wacko” for supporting British Columbia’s policy of decriminalizing some hard drugs in an attempt to reduce overdose-related deaths.

The tension escalated when Fergus asked Poilievre to withdraw his “unparliamentary language.” Poilievre refused, suggesting he would replace “wacko” with “extremist” or “radical.” Fergus promptly removed him from the chamber.

Following Poilievre’s ejection, the entire Conservative caucus left the Commons chamber in protest. Trudeau, who was also involved in name-calling during the exchange, accused Poilievre of courting “white nationalist groups” and criticized his past actions.

The incident highlights the intensity of political debates and the importance of maintaining decorum within the parliamentary setting. As the fallout continues, Canadians are closely watching how this clash will impact the political landscape.

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