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5 Things to Know Today: BoC Hike Odds, Fixed Rates, Tariff Swap, $100 Oil & Budget Countdown (Oct. 25)

  Canadian Money Brief • Sunday, October 25, 2026 A big week for your wallet starts Wednesday. Here are the five things Canadians should know before it begins. 1 The Bank of Canada decides Wednesday, and markets lean toward a hike The Bank of Canada announces its rate decision at 9:45 a.m. ET on Wednesday, Oct. 28, alongside a new Monetary Policy Report. Prediction markets price roughly a 79% chance of a quarter-point hike to 2.50%, up sharply after Governor Tiff Macklem’s hawkish comments at the IMF meetings, though analysts remain split and some expect a “hawkish hold.” The U.S. Fed also decides that day. What it means for you: Variable-rate mortgage and HELOC holders feel it first. A 0.25-point hike works out to roughly $70 more per month on a $500,000 variable mortgage (25-year amortization), and prime would move from 4.45% to 4.70%. A hold means little change until the next decision on Dec. 9. 2 Fixed mortgage rates have already moved without the Bank Fixed rates follow bond ...
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USAID Layoffs Amid Myanmar Earthquake Response Spark Controversy

In the aftermath of Myanmar's devastating 7.7-magnitude earthquake, which has claimed over 3,300 lives, three U.S. aid workers from the U.S. Agency for International Development (USAID) were unexpectedly laid off while actively participating in rescue and recovery efforts. The terminations, announced during their mission, have raised concerns about the impact of recent cuts to USAID under the Trump administration.

Marcia Wong, a former senior USAID official, expressed dismay at the timing of the layoffs, describing them as demoralizing for workers striving to deliver humanitarian aid. The administration's decision to reduce USAID staff and funding has hindered the agency's ability to respond effectively to international disasters, while other nations, including China and Russia, have stepped in with substantial assistance.

The U.S. government has pledged $9 million in aid to Myanmar, but critics argue that the dismantling of USAID has compromised the coordination and delivery of relief efforts. Secretary of State Marco Rubio defended the administration's response, citing challenges posed by Myanmar's military government.

The layoffs highlight broader concerns about the future of U.S. humanitarian aid and its role in global disaster response. As Myanmar continues to grapple with the aftermath of the earthquake, the international community is stepping up efforts to provide relief and support.

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