CAD & Coin #1: Rate decision ahead, crypto safety, and a weak jobs report
Sent Oct 22, 2026
Information only, not financial advice. No paid or affiliate links.
Welcome to CAD & Coin: the week's Canadian money and crypto news in five minutes, every figure sourced.
⏱️ This week in 60 seconds
- Rates: the Bank of Canada decides Oct 28. The rate has been 2.25% since late 2025. BoC
- Inflation: September CPI rose 3.1% year over year, up from 3.0% in August. StatCan
- Jobs: Canada lost 68,000 jobs in September. StatCan
- Crypto: a Toronto kidnapping case and tampered hardware wallets put security in focus.
🏦 Bank of Canada preview
Wednesday, October 28, 09:45 ET, with the Monetary Policy Report. BoC
On Sept 2 the Bank held at 2.25%, warning that "upside risks to inflation have increased." BoC
September CPI rose 3.1% year over year (up from 3.0% in August), the last print before the decision. We don't forecast decisions, but these are the numbers the Bank is watching. StatCan
📊 The numbers
| Metric | Now | Since Sep 2 | Source |
|---|---|---|---|
| BoC policy rate | 2.25% Oct 16 | unchanged | BoC |
| Prime rate | 4.45% Oct 14 | unchanged | BoC |
| Big-bank posted 5-yr GIC | 2.65% Oct 14 | unchanged | BoC |
| 5-yr GoC bond yield | 3.64% Oct 19 | +22 bps from 3.42% | BoC |
| USD/CAD | 1.4054 Oct 20 | +1.38% from 1.3863 | BoC |
| Bitcoin (CAD) | $116,531 Oct 20 | +8.9% from $106,967 | Kraken |
| Ether (CAD) | $3,441 Oct 20 | +3.9% from $3,312 | Kraken |
| CPI, September | +3.1% y/y | up from +3.0% (Aug) | StatCan |
| Unemployment, Sept | 6.5% | up from 6.4% | StatCan |
A higher USD/CAD means a weaker Canadian dollar. The GIC row is the typical posted rate at the six largest banks, not a special offer. Crypto figures are Kraken daily closes.
🪙 Crypto news that matters for Canadians
- Oct 14 · Toronto crypto kidnapping case: police laid 82 charges against seven people, including three Canadian Armed Forces members, over the alleged July abduction of a man police say was targeted for his access to crypto.
Why it matters: the risk to crypto holders isn't only online. CityNews - Oct 13 · Tampered hardware wallets: Ledger found a hidden implant that steals recovery phrases in wallets sold by a Southeast Asian reseller. Separately, Decrypt reports that Trezor told some of its resellers their authorization ends Jan 1, 2027, and that they'll get no new stock.
Why it matters: every confirmed loss involved devices from that one third-party seller. Ledger story · Trezor story - Oct 14 · Canada's crypto remittances jump: Chainalysis says remittance-sized stablecoin and bitcoin transfers from Canada to India, China and the Philippines rose 141% to $2.36 billion (currency not stated) in the 12 months to July 1.
Why it matters: Canadians are using crypto to send money home. Chainalysis - Oct 14 · Bitcoin slips on US inflation: US prices rose 3.7% from a year earlier, and US bitcoin ETFs lost about US$679 million in the week to Oct 9.
Why it matters: US rate fears hit crypto and bond yields alike. CoinDesk · Farside - Oct 14 · USDC under tighter EU watch: EU regulators classified Circle's USDC as a "significant" token.
Why it matters: as of August it was one of only two stablecoins Canadian platforms may offer. Cointelegraph · Blakes
💵 Money news this week
- Oct 19 · September CPI: Canada's inflation rate rose to 3.1% year over year, up from 3.0% in August, led by gasoline (+27.8%). Excluding gasoline, CPI rose 2.2%.
Why it matters: it's the last inflation print before the Oct 28 rate decision. StatCan - Oct 9 · Jobs fall again: employment dropped 68,000 in September, mostly among youth, and unemployment rose to 6.5%.
Why it matters: it's the Bank's last jobs report before deciding. StatCan - Oct 14 · Housing, mixed signals: B.C. home sales fell 9% year over year, while national building permits rose 8.8% month over month in August, to $13.6 billion.
Why it matters: demand is soft, but more supply is planned. CMT · StatCan - Oct 14 · Renewal stress: in an RBC poll, 38% of Quebec homeowners expect their next renewal to strain their budget.
Why it matters: 56% of Quebec respondents worry about rate increases over the next year. RBC poll
Rate 101: The Bank's rate moves prime, which banks use to price variable-rate mortgages and credit lines. Fixed mortgage rates depend mostly on lenders' longer-term funding costs, which respond to the economy and to rates abroad, so they can move between decisions. BoC · BoC explainer
📅 Dates ahead
- Oct 28: Bank of Canada decision and Monetary Policy Report, 09:45 ET BoC
- Nov 6: October jobs report StatCan
- Nov 16: October CPI StatCan
- Nov 20: Canada child benefit payment CRA
Sources: Bank of Canada, Statistics Canada (Open Licence), Canada.ca (Open Government Licence – Canada), Kraken, Farside Investors and the outlets linked. News is summarized in our own words. Not affiliated with any of them. Information only, not financial, tax or investment advice.