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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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Toronto Transit Workers Face Friday Strike Deadline

 

Toronto transit workers are on the brink of a strike unless negotiations see significant changes on key contract issues. The looming deadline, set for Friday just past midnight, could trigger the first TTC strike since 2008.

Core Issues and Impasse

ATU Local 113 president Marvin Alfred stated that negotiations have reached an “impasse.” The union’s nearly 12,000 members are moving toward a strike unless core issues—such as wages, benefits, and job security—are addressed. The union seeks protections against outsourcing jobs to third parties and cross-boundary service transfers to other Greater Toronto Area transit operators.

Optimism and Challenges

TTC spokesperson Stuart Green remains optimistic that a deal can be worked out before the deadline. Negotiations are likely to go down to the wire, balancing the challenging work of union members with affordability for the City of Toronto. TTC chair Jamaal Myers echoes this optimism, emphasizing the need for contingency plans.

Impact on Commuters

A strike could disrupt travel plans for tens of thousands of commuters who rely on TTC subways, streetcars, and buses. While both sides continue bargaining, it’s essential for commuters to have a backup plan in place.



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