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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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Russia Rejects Trump's Ukraine Peace Proposals

In a significant diplomatic development, Russian Foreign Minister Sergey Lavrov has rejected the peace proposals floated by President-elect Donald Trump's allies to end the ongoing war in Ukraine. Lavrov stated that Moscow has not received any official signals regarding a settlement in Ukraine but expressed dissatisfaction with the unofficial ideas being circulated. 

The proposals reportedly included delaying Ukraine's NATO membership for 20 years and stationing British and European peacekeeping forces in Ukraine. Lavrov emphasized the need for reliable and legally binding agreements that address the root causes of the conflict and prevent future violations. 

Trump, who campaigned on ending the war by the time he takes office, has not officially released any proposals to end the conflict. However, he has claimed that he could end the war within 24 hours of taking office. Despite these claims, Lavrov expressed skepticism about Trump's ability to restore ties between Russia and the U.S., citing the current bipartisan consensus on deterring Russia.

The rejection of these proposals marks a setback for Trump's hopes to freeze the conflict and highlights the complexities of achieving a lasting peace in the region.



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