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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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Mark Carney's Alberta Roots: A Strategic Launch for Liberal Leadership

 

 Mark Carney, the former Governor of the Bank of Canada, is set to unveil his Liberal leadership campaign this afternoon in Edmonton, ending nearly a decade of speculation about his political ambitions. 

Carney's decision to launch his campaign from Alberta is a strategic move to highlight his roots in the province. An Edmonton Oilers fan, Carney grew up in the city's west end and worked as a newspaper boy. This launch gives him a chance to connect with voters in a province that has traditionally leaned conservative.

The leadership race is expected to be intense, with former finance minister Chrystia Freeland and government House leader Karina Gould also expected to enter the race in the coming days. The cut-off date to declare a bid for the leadership is January 23, and candidates have to pay a $350,000 entrance fee. 

Carney will seek to position himself as an outsider and put some distance between himself and the deeply unpopular government of outgoing Prime Minister Justin Trudeau. Pierre Poilievre's Conservatives will attempt to tie Carney to the Trudeau government's sinking brand and attack him over his past support of carbon pricing and his recent work advising the Liberal party on economics.

Launching his campaign in Edmonton gives Carney a chance to put his Alberta roots on full display as Canadians get to know him. Alberta could shape up to be an intense battleground between Carney and Freeland, who also grew up in the province.



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