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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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Iran Fires Air Defenses at Isfahan Base and Nuclear Site After Drones Spotted



In a dramatic turn of events, Iran’s air defenses were activated early Friday morning near the central city of Isfahan. The reason? Suspected Israeli attack drones were spotted in the vicinity of a major air base and a nuclear site. The incident comes as a retaliation for Tehran’s unprecedented drone-and-missile assault on Israel.

While no Iranian official directly acknowledged the possibility of an Israeli attack, tensions have been running high since the Saturday assault on Israel during its conflict with Hamas in the Gaza Strip. Israel has also been targeting Iran in Syria, further escalating the situation.

Italian Foreign Minister Antonio Tajani revealed that the U.S. received “last-minute” information from Israel about the attack on Isfahan. However, U.S. Secretary of State Antony Blinken clarified that the U.S. was not involved in any offensive operations.

The apparent attack coincided with Iranian Supreme Leader Ayatollah Ali Khamenei’s 85th birthday. Israeli politicians have hinted at their country’s involvement in the incident, but the Israeli military has remained silent on the matter.

Air defense batteries were activated in several provinces as reports of drones circulated. Iranian army commander Gen. Abdolrahim Mousavi confirmed that crews targeted several flying objects. Fortunately, the explosion in the sky of Isfahan caused no damage.

The Isfahan air base, which houses Iran’s fleet of American-made F-14 Tomcats, was one of the targets. Additionally, the nuclear site near Isfahan, known as the Uranium Conversion Facility, was also under scrutiny. This facility handles fuel production and other activities related to Iran’s civilian nuclear program.

As tensions continue to simmer, the situation remains precarious. The world watches closely, hoping for a de-escalation of hostilities between Iran and Israel.

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