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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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Carney and Trump: A Critical Trade Discussion Amid Optimis

 

As former Bank of England governor Mark Carney prepares to meet with former U.S. President Donald Trump to discuss trade relations, experts are cautiously optimistic about potential progress. While previous U.S.-Canada trade negotiations have had their challenges, Carney’s extensive economic expertise and diplomatic approach may open new doors.  

Economists suggest that a renewed focus on balanced trade policies could benefit both nations, particularly in sectors like energy, technology, and manufacturing. Whether Carney can successfully navigate Trump’s unpredictable approach to deal-making remains to be seen. However, early indications suggest the conversation could bring some much-needed clarity to North American trade relations.  



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