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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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Escalating Conflict: Israel’s Gaza Strikes Intensify Amid Northern Pleas for Aid

 

The conflict between Israel and Gaza has reached a critical point as Israeli forces launched a series of deadly airstrikes on the Gaza Strip. These strikes have resulted in significant casualties, with at least 20 people killed on Wednesday alone. This follows one of the deadliest single strikes of the ongoing conflict, which claimed the lives of scores of individuals in northern Gaza.

The northern regions of Gaza, particularly Beit Lahiya, have been heavily impacted. On Tuesday, a Israeli airstrike on a residential building in Beit Lahiya killed at least 93 people, including 25 children2. The attack has drawn international condemnation, with the United States describing it as “horrifying” and calling for an explanation from Israel.

The humanitarian situation in northern Gaza is dire, with over 100,000 people trapped without access to essential supplies such as food and water. Rescue efforts are hampered by ongoing military operations, leaving many civilians buried under rubble and in desperate need of assistance.

As the conflict escalates, the international community continues to call for a ceasefire and increased humanitarian aid to the affected regions. The situation remains fluid, with both sides experiencing significant losses and the civilian population bearing the brunt of the violence.


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