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5 Things to Know Today: BoC Hike Bets, TSX Slide, Oil Near $100 (Oct. 23)

  Canadian Money Brief • Friday, October 23, 2026 The Bank of Canada decision is five days away, the TSX gave back most of Wednesday's gains, and oil is flirting with US$100 again. Here are the five things Canadian wallets need to know today. 1. Markets Lean Toward a Bank of Canada Hike on Oct. 28 A decision that looked like a ninth straight hold is now a genuine coin flip with a hawkish tilt. After Governor Tiff Macklem warned that there is "no resolution in sight" for the Middle East conflict, BMO and Desjardins flipped to a hike call, Scotiabank firmed up its call and Goldman Sachs joined them, all looking for a quarter-point move to 2.50%. Overnight swaps priced about an 87% chance of a hike earlier this week, though other economists still argue for a hold, pointing to September's 68,000 job losses and a 6.5% unemployment rate. What it means for you: A quarter-point hike adds roughly $21 a month in interest for every $100,000 of variable-rate borrowing (HELOCs an...
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Fed keeps interest rates unchanged, stocks rally



US stocks rose on Wednesday as the Federal Reserve voted to hold interest rates at their highest range in 22 years at the conclusion of its latest policy meeting.  The Federal Reserve decided to keep its benchmark interest rate in a range of 5.25%-5.50%, The Fed is waiting to see the impact of its previous rate hikes on the economy.

The S&P 500 was up more than 1.05% while the Dow ones Industrial Average  gained almost 0.7%. Meanwhile, the tech-heavy Nasdaq  rose about 1.6 %.with the S&P 500, the Dow Jones, and the Nasdaq all gaining more than 0.7%. Investors were relieved that the Fed did not signal any further tightening in the near term.

Fed Chair Jerome Powell said policy makers would proceed carefully although they were not yet confident financial conditions were restrictive enough to get inflation as low as the central bank would like.

Treasury yields edged lower, with the 10-year yield trading around 4.8%. Yields ticked lower earlier Wednesday after the US Treasury's quarterly refunding update revealed the Treasury will auction $112 billion in debt next week, roughly in line with Wall Street's expectations.


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