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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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Crackdown in Turkey: Journalists Detained Amid Protests Over Erdogan Rival's Imprisonment

Turkish authorities have detained several journalists as protests erupt across the country following the imprisonment of Istanbul Mayor Ekrem Imamoglu, a prominent rival to President Recep Tayyip Erdogan. The mayor's arrest on corruption charges has sparked the largest wave of demonstrations in Turkey in over a decade, raising concerns about press freedom and the state of democracy.

The journalists, reportedly detained from their homes, were accused of covering the protests. Media unions have condemned the detentions as an attack on the public's right to information. Meanwhile, the protests, largely peaceful, have seen clashes with police using water cannons and tear gas to disperse crowds.

Imamoglu's arrest is widely viewed as a politically motivated move to sideline a key opposition figure ahead of the 2028 presidential elections. Government officials, however, deny these allegations, insisting that the judiciary operates independently.


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