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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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Trump Delays Tariff Hikes on Furniture and Cabinets for One Year

 


President Donald Trump has postponed planned tariff increases on imported upholstered furniture, kitchen cabinets, and bathroom vanities, granting a one‑year extension before higher duties take effect.

The tariffs were originally scheduled to rise at the start of 2026, with rates on upholstered furniture set to increase from 25% to 30%, and duties on kitchen cabinets and vanities slated to jump from 25% to 50%. Under the new timeline, the current 25% rate will remain in place through 2026.

The administration said the delay is intended to provide additional time for ongoing trade negotiations with countries that export these products to the United States. Officials have argued that the tariff increases are part of a broader effort to bolster domestic manufacturing and address long‑standing trade imbalances.

The postponement offers temporary relief to importers, retailers, and builders who had been preparing for higher costs. Unless further action is taken, the increased tariffs are now scheduled to take effect on January 1, 2027.


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