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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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Mass Evacuation Ordered in Rafah Amid Escalating Conflict

 

The Israeli military has issued an urgent evacuation order for residents of the Tel al-Sultan neighborhood in Rafah, located in the southern Gaza Strip. This directive comes amidst intensified military operations in the region, which have already caused widespread destruction and displacement.

Thousands of Palestinians were seen fleeing their homes, carrying minimal belongings as they moved on foot toward al-Mawasi, a coastal area hosting makeshift tent camps. The evacuation follows heavy bombardments that have left the neighborhood in ruins, with reports of casualties and injuries mounting. The humanitarian situation in Gaza continues to deteriorate, with the territory officially entering the first stage of famine due to prolonged border closures.

The evacuation order has further compounded the suffering of Gaza's population, many of whom have been displaced multiple times during the ongoing conflict. The scenes of families walking through sand and mud under dire conditions highlight the urgent need for international intervention to address the escalating crisis. 

The situation remains volatile, with no immediate resolution in sight. The global community watches closely as the humanitarian toll rises in this war-torn region. 



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