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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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Canada Post Resumes Operations Tuesday After Month-Long Strike

 

 Mail is set to begin moving again on Tuesday, December 17, after a month-long strike by Canada Post employees. The Canada Industrial Relations Board (CIRB) ordered the postal workers back to work, declaring an impasse in negotiations between Canada Post and the Canadian Union of Postal Workers (CUPW).

While operations will technically resume on Tuesday, Canada Post has warned that it will take time to clear the backlog of packages and letters that accumulated during the strike. The company will not receive or pick up new products until Thursday, December 19, and will start accepting new international mail on December 23.

Canadians should expect delays into January 2025, and post office hours of operation may vary as the company ramps up operations. The CIRB has extended the current collective agreements until May 22, 2025, to allow for continued negotiations.

Canada Post and the union have agreed to implement a five percent wage increase, retroactive to the day after the collective agreements expired. Key issues in the dispute included wage increases and a push by Canada Post to expand delivery to the weekend.

The federal government had initially resisted intervening in the dispute but eventually directed the CIRB to order the workers back to work. Labour Minister Steven MacKinnon emphasized the need to address the structural issues facing Canada Post and find a sustainable solution.

As operations resume, Canada Post is committed to providing customers with as much information as possible regarding specific timelines and capacity. The company is also working to ensure that employees are compensated fairly during this transition period.




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