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Money news: rates, inflation and your budget

4 articles · updated November 7, 2026

Where rates stand

After the October 28 decisions

Each news piece here starts from the central bank's own release and ends with what to change in your budget or debt plan.

Short answer · October 30, 2026

The Fed kept its target range at 3.75%–4.00% on October 28 after a 0.25 point hike on September 16; the bank prime rate is 7.00% (FOMC statement). The Bank of Canada raised its overnight rate to 2.50% the same day (Bank of Canada). Variable-rate cards, lines of credit and HELOCs tied to prime cost more than in the summer.

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Latest

News · Nov 7

IRS Sets the 2027 Tax Brackets and a $16,600 Standard Deduction: How to Update Your Budget

The IRS set 2027 tax brackets on Nov 5, 2026: a $16,600 standard deduction for singles and $33,200 for couples. What it does to your paycheck and budget.

News · Nov 7

Budget 2026 Plans to Send Credit Card Payments to the Highest Rate First: What It Means for Your Debt Plan

Budget 2026 (Nov 5) plans card payments above the minimum to hit the highest rate first, a yearly bank fee statement and 42-day payday loans. What to do now.

News · Nov 3

CRA Sets the 2027 RRSP Limit at $35,390 and Raises the CPP Earnings Ceiling: What Changes for You

The CRA set the 2027 RRSP limit at $35,390 and the CPP ceiling at $76,700 on Oct 28, 2026. What it means for your room and paycheque; TFSA 2027 pending.

News · Updated Oct 30

The Fed Raised Rates to 3.75–4.00%: What the September 2026 Hike Means for Your Credit Card Interest

The Fed raised rates to 3.75–4.00% on Sept 16, 2026 and held on Oct 28; prime is 7.00%. What it costs on credit cards and HELOCs, plus a 15-minute payoff plan.

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