Rate Hike Survival Kit (Canada): see what the Oct 28 Bank of Canada decision costs you per day

The Bank of Canada announces its next rate decision on Wednesday, October 28, and most economists expect a hike. What would that cost your household, in real dollars?

The Rate Hike Survival Kit turns that headline into your own numbers. Enter your mortgage, HELOC, car loan, lines of credit and cards, and the spreadsheet shows what each one costs per day, month and year, at today's prime rate and after a 0.25% or 0.50% hike.

Renewing soon? The Fixed vs Variable calculator shows how many hikes it takes before fixed comes out ahead. A savings tab shows what the hike adds to your HISA, and helps you plan a 5-rung GIC ladder. Then a 10-move Action Plan, with the dollar impact of each move, helps you soften the hit.

Includes an editable .xlsx (Excel, Google Sheets, Numbers) and a 7-page quick-start guide. General information, not financial advice.

5 benefits

Your hike in dollars per day. See exactly what +0.25% or +0.50% adds to each debt, and the total.

Fixed vs variable, settled. A break-even calculator shows how many hikes it takes before fixed wins, using Canadian semi-annual compounding.

The upside for savers. See what a hike adds to your HISA after tax, and plan a 5-rung GIC ladder.

A 10-move action plan. Practical steps ranked by deadline, each with an estimated yearly impact from your own numbers.

Set up in 5 minutes, reuse all year. Update two rates after any Bank of Canada decision and every tab recalculates. No macros and no sign-ups.

FAQ

Does it work without Excel? Yes. It opens in Google Sheets, Apple Numbers and LibreOffice. All formulas are standard, with no macros.

What if the Bank of Canada doesn't hike? The kit still shows your daily interest cost and your fixed-vs-variable break-even. Set the hike scenarios to match any future decision (next one: Dec 9).

Are the rates current? The prime rate (4.45%) and policy rate (2.25%) were verified on Oct 24, 2026. The rates are input cells, so you can update them in seconds.

Is this financial advice? No. It's a general information and education tool. Check your lender's terms and talk to a licensed advisor before acting.

Is my data private? Yes. Everything stays in your own spreadsheet. Nothing is uploaded or tracked.

Refunds? If the file won't open for you, contact the seller through the store and you'll get a fix or a refund.