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BoC Set to Hike Into a Weak Economy: What It Means for You

  Canadian Money Brief • Feature Monday, October 26, 2026 • Written ahead of the 9:45 a.m. ET decision on Wednesday, Oct. 28 The Bank of Canada is about to do something that looks backwards. Jobs are disappearing, the housing market is sluggish, and yet money markets and most economists expect the central bank to raise its key rate on Wednesday. If it happens, your budget gets squeezed from two directions at once: higher borrowing costs and a shakier job market. The short version • Expected move: +0.25 point to 2.50% on Oct. 28, up from 2.25% • Reuters poll: 56% of economists (19 of 34) call for a hike, and a majority see one more by end of March • Why now: energy-driven inflation (3.1% in September) and a bank worried it spreads • The catch: 68,300 jobs lost in September , unemployment at 6.5% Why would the bank hike when the economy is wobbling? Reuters reports the Bank of Canada is expected to raise its rate as a pre-emptive strike: the goal is to stop an oil-driven jump in p...
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Wall Street Futures Dip as Holiday-Shortened Week Concludes

 

 U.S. stock index futures fell on Friday as Wall Street wrapped up a holiday-shortened week. The Dow Jones Industrial Average futures dropped 119 points (0.27%), while S&P 500 futures declined by 22 points (0.36%). Futures tracking the tech-heavy Nasdaq 100 also fell by 92.25 points (0.42%).

Despite the dip, the S&P 500 has nearly recovered from last week's losses, driven by the U.S. Federal Reserve's projection of fewer interest rate cuts in 2025. The benchmark index is now just 1% below its all-time high reached on December 6.

Investors are now eyeing the "Santa Claus rally," a traditional stock-buying season in the last five trading sessions of December and the first two of January. Historically, the S&P 500 has climbed 1.3% on average during this period since 1969.

Trading volumes have been lower than average this week and are expected to remain subdued until January 6. The next major focus for markets will be the December employment report due on January 10.




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