Canadian wealth and financial planning briefing

Both the Bank of Canada and the U.S. Federal Reserve announce rate decisions on Wednesday. Information as of Monday, October 26, 2026.

Market in 60 seconds

• Bank of Canada. The policy rate is currently 2.25%. In a Reuters poll taken October 21 to 23, 19 of 34 economists expected the Bank to raise it to 2.50% on Wednesday, with others expecting it to hold. Economists who expected a hold pointed to softer employment, lower core inflation and a weak housing market.
• Stocks. It was a choppy week for the S&P/TSX Composite. The index fell about 1% on Thursday and hit a one-week low on Friday as falling gold prices and rising bond yields weighed, while the energy sector reached a record with U.S. crude above US$100.
• Why it matters. Both central banks are weighing the same question: whether high energy prices will spread into broader inflation. Their decisions affect borrowing costs and the interest earned on cash and bonds.

Planning point of the week: start your year-end checklist

There are about nine weeks left in the year. Several planning deadlines fall on December 31, and a few need lead time.

• TFSA. Contribution room is based on the calendar year. Confirm your available room with the CRA before contributing.
• RRSP. Contributions for the 2026 tax year can be made until March 1, 2027, but deciding early helps cash-flow planning.
• RESP, FHSA. Contributions made by December 31 count for this calendar year.
• Charitable donations. Gifts must be made by December 31 to claim them on your 2026 return. Donating securities directly can be tax-efficient and is worth discussing in advance.
• Tax-loss selling. A trade must settle by year-end to count for 2026. Check your dealer's last trade date and speak with us before selling.
• Your corporation. If your corporation has a December 31 year-end, decisions about salary, dividends and bonuses should be made before then. If you are considering equipment purchases because of the proposed Productivity Mega Deduction, remember it is still a proposal, not law. Check with your accountant.

On the calendar

• Wednesday, October 28: Bank of Canada interest rate decision and Monetary Policy Report. U.S. Federal Reserve rate decision the same day.
• Monday, November 16: Statistics Canada releases October inflation data.
• Wednesday, December 9: Next Bank of Canada decision.

Sources: Reuters poll as reported by Canadian media; TMX Money; Canadian Press market reports; Canada Revenue Agency.