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5 Things to Know Today: BoC Hike Eve, OAS Boost, Tariff Shuffle – Oct 27

  CANADIAN MONEY BRIEF • TUESDAY, OCTOBER 27, 2026 A big central-bank week opens with the Bank of Canada decision tomorrow, a pension payday, a tariff reshuffle and a federal budget on the horizon. Here is what matters for your wallet today. 1. The Bank of Canada Decides Tomorrow, and a Hike Is Priced In The Bank of Canada announces its rate decision Wednesday at 9:45 a.m. ET, alongside its Monetary Policy Report. Markets put the odds of a quarter-point hike to 2.50% at roughly 80%, and 19 of 34 economists polled by Reuters expect it, with most also seeing another increase before March. RBC calls it a “pivotal decision” but says its conviction on a hike is “very low,” so a hold that sets up December or January is still possible. What it means for you: Each 0.25-point move adds about $104 a month in interest per $500,000 owed on a prime-linked variable mortgage or HELOC. Fixed rates follow bond yields, so they may already reflect much of this. If your renewal is coming, price both ...
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GM's Oshawa Plant to Reduce Shifts Amid U.S. Tariff Concerns


General Motors is set to scale back operations at its Oshawa Assembly Plant this fall, moving from a three-shift system to two shifts. The decision, according to Unifor, the union representing workers, is a direct response to U.S. tariffs imposed on Canadian-built vehicles.

Unifor National President Lana Payne criticized the move, calling it "reckless" and warning that it could have widespread consequences for the auto parts supplier network. The union has urged GM to reconsider its decision, arguing that Canadian jobs should not be sacrificed for political favor.

The shift reduction follows the U.S. government's imposition of a 25% tariff on Canadian-made vehicles in March, a policy that has significantly impacted the Canadian auto industry. GM has stated that it plans to recalibrate the Oshawa plant to focus more on Canadian sales rather than exports to the U.S..

With thousands of jobs potentially affected, Unifor is calling on the Canadian government to take swift action to protect domestic auto manufacturing. The union has also demanded that GM uphold its commitments to Canadian workers and production.

The Oshawa plant, which assembles Chevrolet Silverado trucks, was reopened after significant investments from federal and provincial governments. Now, with the looming shift cuts, workers and industry leaders alike are watching closely to see how GM and policymakers respond.

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