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5 Things to Know Today: BoC Hike Odds, Fixed Rates, Tariff Swap, $100 Oil & Budget Countdown (Oct. 25)

  Canadian Money Brief • Sunday, October 25, 2026 A big week for your wallet starts Wednesday. Here are the five things Canadians should know before it begins. 1 The Bank of Canada decides Wednesday, and markets lean toward a hike The Bank of Canada announces its rate decision at 9:45 a.m. ET on Wednesday, Oct. 28, alongside a new Monetary Policy Report. Prediction markets price roughly a 79% chance of a quarter-point hike to 2.50%, up sharply after Governor Tiff Macklem’s hawkish comments at the IMF meetings, though analysts remain split and some expect a “hawkish hold.” The U.S. Fed also decides that day. What it means for you: Variable-rate mortgage and HELOC holders feel it first. A 0.25-point hike works out to roughly $70 more per month on a $500,000 variable mortgage (25-year amortization), and prime would move from 4.45% to 4.70%. A hold means little change until the next decision on Dec. 9. 2 Fixed mortgage rates have already moved without the Bank Fixed rates follow bond ...
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Enbridge to cut 650 jobs due to “increasingly challenging

 


Enbridge, a Canadian pipeline giant, has announced that it will be cutting 650 jobs due to “increasingly challenging business conditions” . The company aims to complete the job reductions by March 1, 2024. Enbridge is headquartered in Calgary and currently has approximately 12,000 employees, primarily in the U.S. and Canada.

The job cuts come as the company faces persistent headwinds including higher interest rates, economic uncertainty, and the ripple effects of geopolitical developments. Enbridge spokeswoman Gina Sutherland confirmed the cuts in an email Tuesday, adding that the company must cut costs and strengthen its competitiveness to weather the near-term challenges.

The job cuts are expected to be made across the organization, but no specifics have been provided on which individual business units or regions would be most affected.


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