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BoC Set to Hike Into a Weak Economy: What It Means for You

  Canadian Money Brief • Feature Monday, October 26, 2026 • Written ahead of the 9:45 a.m. ET decision on Wednesday, Oct. 28 The Bank of Canada is about to do something that looks backwards. Jobs are disappearing, the housing market is sluggish, and yet money markets and most economists expect the central bank to raise its key rate on Wednesday. If it happens, your budget gets squeezed from two directions at once: higher borrowing costs and a shakier job market. The short version • Expected move: +0.25 point to 2.50% on Oct. 28, up from 2.25% • Reuters poll: 56% of economists (19 of 34) call for a hike, and a majority see one more by end of March • Why now: energy-driven inflation (3.1% in September) and a bank worried it spreads • The catch: 68,300 jobs lost in September , unemployment at 6.5% Why would the bank hike when the economy is wobbling? Reuters reports the Bank of Canada is expected to raise its rate as a pre-emptive strike: the goal is to stop an oil-driven jump in p...
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Arrests Made in $22 Million Gold Heist at Toronto Pearson Airport

 

Peel Regional Police have announced significant breakthroughs in the investigation of the audacious gold heist that took place exactly one year ago at Toronto Pearson International Airport. The daring caper involved the theft of a “high-value container” containing $22 million worth of gold and banknotes from a holding cargo facility after it was taken off an Air Canada plane.

The Heist: A Year Ago

On April 17, 2023, under the cover of darkness, the thieves executed their meticulously planned operation. The stolen cargo, weighing a staggering 400.19 kilograms, included gold bars and US$2 million in cash. The audacity of the heist lay in its simplicity: the perpetrators walked into Air Canada’s cargo facility, presented a false waybill, and nonchalantly left with the enormous haul. The identity of the other financial institution involved remains shrouded in mystery.

Details and Arrests

Peel Regional Police, in collaboration with the U.S. Alcohol, Tobacco, and Firearms Bureau, revealed that arrests have been made in connection with the heist. The joint-task investigation, codenamed Project 24K, has finally yielded results. At 8:30 a.m. ET in Brampton, Chief Nishan Duraiappah, Det-Sgt. Mike Mavity, and Eric DeGree, special agent in charge of the Alcohol, Tobacco, and Firearms Bureau, will provide further details about the arrests and the recovery of the stolen assets.

Inside Help and Organized Crime

Speculation has swirled around the heist, with sources suggesting that the thieves had inside assistance. Some reports even point to South Asian mobsters orchestrating the operation. The stolen gold’s fate remains uncertain, although rumors persist that it was swiftly transported to the Port of Montreal. A lawsuit filed by Brink’s against Air Canada may shed light on the circumstances surrounding the heist. Brink’s alleges that an unidentified individual gained access to Air Canada’s cargo warehouse using fake paperwork, leading to the handover of the gold bars and cash.

As the investigation unfolds, the public awaits further revelations about this audacious crime that captured global attention. The recovery of the stolen gold and the identities of those involved remain central to this gripping saga.

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