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5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...
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How the Bank of Canada envisions a digital dollar



The Bank of Canada has revealed some details about its potential digital currency, which would be a digital version of the Canadian dollar. The central bank has been researching the idea of a digital currency for several years, but has not yet decided whether to launch one.

According to a presentation by the bank’s deputy governor Timothy Lane, the digital currency would not pay interest or require identification from users. This would make it different from bank deposits, which pay interest and require verification, and cash, which does not pay interest but is anonymous.

The bank says that a digital currency would have several benefits, such as improving financial inclusion, reducing the use of cash, and enhancing the resilience and efficiency of the payment system. It would also give the bank more control over the money supply and potentially enable new monetary policy tools.

However, there are also challenges and risks associated with a digital currency, such as privacy and security issues, legal and regulatory implications, and the impact on the banking sector and the economy. The bank says that it is consulting with various stakeholders, including the public, to assess the pros and cons of a digital currency.

The bank has not yet announced a timeline for launching a digital currency, but says that it will be ready to do so if the need arises. The bank says that it will continue to monitor the developments of other central banks and private sector initiatives, such as cryptocurrencies and stablecoins, that could affect the demand for a digital currency.

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