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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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History in the Making: Botswana Unearths 2,492-Carat Diamond

 

In a remarkable discovery, Botswana has unearthed the largest diamond found in over a century. The colossal 2,492-carat stone was recently revealed at a viewing ceremony in Gaborone, the country’s capital. This extraordinary find, weighing approximately half a kilogram, marks a historic moment for Botswana and the diamond industry.

The as-yet-unnamed diamond was presented to the world by Botswana’s President, Mokgweetsi Masisi. His awe-struck reaction—“It is overwhelming. I am lucky to have seen it in my time”—captures the significance of this remarkable gem. Senior government officials were equally amazed, gathering to take a closer look at the fist-sized wonder.

The diamond was recovered from the Karowe Mine in central Botswana by Lucara Diamond Corp., a Canadian mining company. Using advanced X-ray technology, Lucara identified this “exceptional” rough diamond, which remains intact and of high quality. While its value is yet to be determined, it already holds a place in history as the largest diamond found in 119 years.

For context, the famous Cullinan Diamond, discovered in South Africa in 1905, weighed 3,106 carats and was cut into gems that now adorn the British Crown Jewels. Botswana, known for its natural diamond production, continues to make headlines with its remarkable finds. As the second-biggest producer of natural diamonds globally, the country has consistently unearthed some of the world’s most significant stones. 

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