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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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Carney Set to Roll Out Major Affordability Plan

                                            Prime Minister Mark Carney

 is preparing to unveil a wide‑ranging package of measures aimed at easing the financial pressure facing households across the country. The initiative is expected to focus heavily on boosting direct support for low‑ and middle‑income Canadians as living costs continue to strain family budgets.

A central feature of the package is an expansion of the GST credit, which would increase quarterly payments for millions of eligible recipients. Early indications suggest the enhanced credit would deliver meaningful additional support over the coming years, offering relief to single adults, couples, and families who have been hit hardest by rising prices.

The affordability package is also expected to include targeted measures to help with essential expenses such as groceries, building on previous rebates and cost‑of‑living supports. Together, these steps signal a renewed push by the federal government to address economic pressures as Parliament resumes and affordability remains a top concern for Canadians.


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