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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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U.S. Signals Deadline for Russia-Ukraine Peace Talks

The United States has hinted at stepping away from its efforts to mediate peace between Russia and Ukraine if significant progress is not achieved in the coming days. U.S. Secretary of State Marco Rubio, speaking after high-level talks in Paris, emphasized the urgency of determining whether a peace deal is feasible in the short term.

Rubio described the discussions, which included U.S., Ukrainian, and European officials, as constructive and noted that they had outlined potential steps toward peace. However, he stressed that the U.S. cannot continue its involvement indefinitely without clear signs of progress. A follow-up meeting is expected to take place in London soon, which could be pivotal in deciding the future of these peace efforts.

The talks come amid growing concerns in Europe about the ongoing conflict and its broader implications. While some progress has been made, significant challenges remain, including disagreements over security guarantees and the conditions for a ceasefire. The U.S. administration has also faced mounting frustrations over the lack of resolution to this and other geopolitical challenges.

Rubio's remarks underline the delicate balance the U.S. is trying to maintain—pushing for peace while managing its own strategic priorities. The coming days will reveal whether these efforts can yield a breakthrough or if the U.S. will indeed "move on" from its mediation role.



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