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5 Things to Know Today: BoC Hike Bets, TSX Slide, Oil Near $100 (Oct. 23)

  Canadian Money Brief • Friday, October 23, 2026 The Bank of Canada decision is five days away, the TSX gave back most of Wednesday's gains, and oil is flirting with US$100 again. Here are the five things Canadian wallets need to know today. 1. Markets Lean Toward a Bank of Canada Hike on Oct. 28 A decision that looked like a ninth straight hold is now a genuine coin flip with a hawkish tilt. After Governor Tiff Macklem warned that there is "no resolution in sight" for the Middle East conflict, BMO and Desjardins flipped to a hike call, Scotiabank firmed up its call and Goldman Sachs joined them, all looking for a quarter-point move to 2.50%. Overnight swaps priced about an 87% chance of a hike earlier this week, though other economists still argue for a hold, pointing to September's 68,000 job losses and a 6.5% unemployment rate. What it means for you: A quarter-point hike adds roughly $21 a month in interest for every $100,000 of variable-rate borrowing (HELOCs an...
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South Korean Parliament Impeaches President Yoon Over Martial Law Decree

 

In a historic move, South Korea's parliament voted to impeach President Yoon Suk Yeol following his controversial martial law decree on December 3rd. The National Assembly passed the motion with a significant majority, 204-85. This decision came after Yoon's short-lived martial law order, which lasted only six hours before being unanimously overturned by parliament.

The impeachment motion was driven by allegations of rebellion and a violation of the constitution, as Yoon's decree was seen as an attempt to undermine democratic processes. Prime Minister Han Duck-soo will assume presidential duties while the Constitutional Court reviews the impeachment, a process that could take up to 180 days.

The impeachment has sparked widespread public reaction, with jubilant crowds celebrating outside the National Assembly. President Yoon, in a statement, vowed to continue serving the country despite the temporary suspension of his powers.


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