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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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Israeli Response to Latest Ceasefire Proposal Deemed Negative

In a recent development, a senior Hamas official revealed that Israel’s response to the group’s latest Gaza ceasefire proposal was negative. The proposal, handed over by mediators, failed to meet the demands set forth by Hamas.

Summary of Events: 

  • On Tuesday evening, the mediators informed Hamas of Israel’s position on the proposal. According to Osama Hamdan, the Israeli response was “generally negative” and did not address the critical issues at hand.
  • Hamas holds Israeli Prime Minister Benjamin Netanyahu and his government accountable for the failure to negotiate a hostage release in exchange for Palestinian prisoners and to halt the ongoing conflict in Gaza.
  • Despite weeks of negotiations, a comprehensive agreement between Israel and Hamas remains elusive. Talks have resumed this week in Qatar, but the humanitarian crisis in Gaza continues to escalate.
  • Over the past week, more than 100 aid workers have lost their lives, and dozens have been wounded in eight attacks carried out by Israeli forces.
  • As the situation remains tense, international attention remains focused on finding a resolution. The hope is that renewed dialogue will pave the way for a lasting ceasefire and alleviate the suffering of civilians caught in the crossfire.

Stay tuned for further updates as the situation unfolds.


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