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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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S&P 500 and Nasdaq Set to Jump as Nvidia Surge Continues


US stock indexes are poised for gains early today as Nvidia’s record-breaking surge continues. The tech-heavy Nasdaq Composite futures lead the way, up about 0.7%, while S&P 500 futures point up around 0.4%. This follows the S&P 500’s 31st record close of the year on Tuesday.

Nvidia’s meteoric rise has captured investors’ attention, with its stock up more than 170% so far this year. Just two weeks after dethroning Apple as the No. 2 most valuable company, Nvidia now claims the title of the world’s most valuable public company, surpassing Microsoft.

Elsewhere, global central banks are in focus, with the Swiss National Bank cutting rates for the second time this year. The Bank of England maintains its benchmark rate at a 16-year high but signals a potential rate cut in the summer. In the US, traders continue to bet on a Fed rate cut by September.

Keep an eye on weekly jobless claims data today for further insights into the macroeconomic landscape.


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