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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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U.S. Diplomacy at a Crossroads: Trump and Rubio Signal Urgency in Russia-Ukraine Peace Talks

In a pivotal moment for international diplomacy, President Donald Trump has called on Russia to halt its attacks on Ukraine, emphasizing the need for immediate action to end the ongoing conflict. Trump's remarks come as U.S. Secretary of State Marco Rubio warns that the United States may reconsider its role in mediating peace efforts if progress remains elusive.

During a recent meeting with Ukrainian President Volodymyr Zelenskyy at the Vatican, Trump expressed frustration over Russia's continued aggression, stating that there was "no reason for Putin to be shooting missiles into civilian areas." Rubio echoed the urgency, describing the coming week as "critical" for determining whether the U.S. will continue its involvement in the peace process.

The stakes are high, with both leaders underscoring the importance of a negotiated settlement to end the war. However, the path forward remains fraught with challenges, as territorial disputes and security guarantees continue to be major sticking points in the negotiations. 

This moment could define the future of U.S. engagement in global conflict resolution, as the administration balances its commitment to peace with the realities of geopolitical complexities.

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