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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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Trump's Tariff Gamble: Boom or Bust?

In a bold move, former President Donald Trump has predicted that his sweeping global tariffs will lead to an economic boom for the United States. The tariffs, which impose significant taxes on imports from various countries, are aimed at boosting domestic manufacturing and creating jobs. Trump has emphasized that these measures will "bring back manufacturing jobs" and "restore America's economic glory."

However, the immediate reaction from global markets tells a different story. Financial markets worldwide have experienced sharp declines, with major indices like the S&P 500 and Nasdaq dropping significantly. Economists warn that the tariffs could lead to higher inflation and slower economic growth, potentially offsetting any benefits from increased domestic production.

While Trump remains optimistic about the long-term impact of his policies, critics argue that the tariffs could strain international relations and disrupt global supply chains. The coming months will reveal whether Trump's vision of economic prosperity will materialize or if the tariffs will trigger a recession instead.

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