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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 Terminates Agreement with UNRWA, Impacting Aid in Gaza

 

In a significant development, Israel has officially terminated its agreement with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), the primary provider of aid in Gaza. This move follows recent legislation passed by the Israeli parliament, which restricts UNRWA’s operations within Israeli territory.

The Israeli government has accused UNRWA of being infiltrated by Hamas, a claim the agency firmly denies, asserting that it maintains strict neutrality in its operations. The termination of this agreement, which dates back to 1967, is seen as a step towards implementing the new laws that sever ties with the agency.

UNRWA has been a crucial lifeline for millions of Palestinians, providing essential services such as education, healthcare, and food aid. The cessation of cooperation with UNRWA is expected to exacerbate the already dire humanitarian situation in Gaza, where the population relies heavily on international aid.

The international community has expressed concern over the potential humanitarian impact of this decision. Aid groups warn that the new restrictions could severely hamper efforts to address the ongoing crisis in Gaza.

As the situation unfolds, the focus remains on how this decision will affect the delivery of aid and the broader implications for the region’s stability.


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