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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...
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Trump Administration Repeals Biden-Era Order on U.S.-Supplied Weapons and Human Rights

 

In a significant policy shift, the Trump administration has rescinded a Biden-era order that required the U.S. government to report potential violations of international law involving U.S.-supplied weapons by allies, including Israel. The order, known as National Security Memorandum-20 (NSM-20), was signed by former President Joe Biden in February 2024 amid concerns over Israel's use of American bombs in its war in Gaza.

NSM-20 mandated that the U.S. government produce reports for Congress on the use of U.S. arms by other countries, ensuring that these weapons were not used in violation of international humanitarian law. However, the Trump administration, through an order issued by White House National Security Adviser Michael Waltz on February 21, has repealed this memorandum.

The decision has sparked controversy, with U.S. Senator Chris Van Hollen of Maryland, a key proponent of congressional oversight of U.S. arms sales, calling the move "shameful" and a disservice to national security and global human rights. Van Hollen emphasized that the revocation undermines American taxpayers' right to ensure their dollars align with U.S. laws and national interests.

The Trump administration's decision to rescind NSM-20 has raised concerns about the credibility of assurances from U.S. allies, such as Israel, regarding their adherence to international humanitarian law when using U.S.-supplied weapons. Critics argue that this move reflects a blatant indifference to American values and a retreat from the principles of human rights and accountability.


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