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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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Israel Reopens Key Crossing for Aid to Enter Gaza After U.S. Pauses Weapons Shipment

 

In a significant development, Israel has reopened the Kerem Shalom crossing into Gaza, a crucial terminal for the entry of humanitarian aid. The crossing had been closed over the weekend following a Hamas rocket attack that tragically killed four Israeli soldiers nearby. Here are the key points:

  1. Background:

    • The Kerem Shalom crossing serves as a lifeline for humanitarian aid entering Gaza.
    • The recent rocket attack prompted its closure, but Israel has now reopened it.

  2. Rafah Crossing and Tensions:

    • Israel also seized the nearby Rafah crossing between Gaza and Egypt, which remains closed.
    • The limited incursion into Rafah does not signal a full-scale invasion of the city, but tensions remain high.
    • The situation highlights the growing rift between Israel and the United States, its main backer.

  3. U.S. Involvement:

    • The U.S. recently paused a shipment of bombs to Israel due to concerns about a potential full-scale assault on Rafah.
    • Efforts are underway to negotiate a temporary ceasefire and the release of Israeli hostages held by Hamas.

  4. Humanitarian Aid and Control:

    • The Rafah crossing is vital for humanitarian aid and the movement of people.
    • Israel now controls all of Gaza’s border crossings for the first time in nearly two decades, cooperating with Egypt on maintaining a blockade.

  5. Ongoing Challenges:

    • Sporadic explosions and gunfire have been reported near the Rafah crossing.
    • Patients and wounded individuals scheduled for medical treatment have been left stranded.

  6. Hope Amidst Tensions:

    • UN agencies and aid groups continue their efforts to provide humanitarian assistance.
    • The situation remains complex, with both humanitarian needs and security concerns at play.

As the situation unfolds, the fate of civilians caught in the conflict hangs in the balance. The reopening of the Kerem Shalom crossing offers a glimmer of hope, but challenges persist. 



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