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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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Israel Intensifies Strikes across Gaza, Orders New Evacuations in North

 


Israeli strikes have intensified across Gaza on Tuesday, with some of the heaviest shelling in weeks, according to residents. The army has ordered fresh evacuations in the north of the strip, warning civilians that they are in a “dangerous combat zone” . The situation remains tense as air strikes and shelling continue in central and southern areas. Here are the key points:

  1. Intensified Attacks: Israeli forces have escalated their attacks, using both air strikes and tank shelling. Residents report almost non-stop bombardments in various areas of Gaza.

  2. Evacuation Orders: The Israeli army has urged residents in four zones near Beit Lahiya (on Gaza’s northern edge) to move to designated shelter areas. The military emphasizes its intention to act with “extreme force against terrorist infrastructure and subversive elements” in the region.

  3. Failed Ceasefire Efforts: Despite previous announcements of troop withdrawal from certain areas, efforts to reach a ceasefire have failed. Displaced Gazans find it challenging to return to their abandoned homes due to ongoing Israeli bombardments.

  4. Hamas’s Response: The armed wing of Islamic Jihad, allied with Hamas, claims responsibility for rocket attacks on two southern Israeli border towns. The conflict has displaced nearly all of Gaza’s 2.3 million people, and Hamas remains steadfast in its demands for a permanent end to the war and the return of displaced individuals to the north.

  5. Ongoing Conflict: The situation remains volatile, with thick black smoke rising in northern Gaza. Shelling continues in various areas, affecting schools and causing panic among displaced residents.

As the conflict persists, the region faces immense challenges in achieving peace and stability.

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