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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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Biden Warns Iran Against Imminent Attack on Israel

 


U.S. President Joe Biden has issued a stern warning to Iran, anticipating an attack on Israel in the near future. Speaking to reporters, Biden succinctly stated, “Don’t.” He emphasized Washington’s unwavering commitment to Israel’s defense, asserting that Iran’s efforts would ultimately fail.

The escalating tensions stem from an airstrike in Damascus that claimed the lives of senior Iranian commanders, including Brig-Gen Mohammad Reza Zahedi of Iran’s elite Quds Force in Syria and Lebanon. Although Israel has not officially claimed responsibility for the attack, it is widely believed to be the perpetrator.

As the world watches with bated breath, the possibility of retaliation looms large. Countries such as the U.S., UK, India, and Australia have issued travel warnings, urging caution for their citizens in both Israel and Iran. President Biden has assured Israel of his country’s “ironclad” support in the event of an Iranian assault.

The stakes are high, and the region remains on edge. Israel’s leaders are bracing for a potential onslaught, while Iran’s actions remain uncertain. Amid this tense backdrop, the world holds its breath, hoping for restraint and de-escalation in the face of mounting hostilities.

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