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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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Fiery Crash Shuts Down Westbound Highway 401 Near Neilson Road

A dramatic early morning crash involving a tow truck and a transport trailer brought westbound traffic on Highway 401 in Scarborough to a standstill Thursday.

The incident occurred just before 1 a.m. near Neilson Road, when a tow truck hauling a tractor-trailer collided with a concrete crash barrier. The impact caused the trailer to roll over and catch fire, prompting a swift emergency response. The driver was taken to hospital with non-life-threatening injuries and has since been charged with careless driving.

As a result, the westbound collector lanes and the transfer to the express lanes were closed, along with the northbound Neilson ramp to the westbound 401. Authorities aimed to reopen the affected stretch by 10 a.m., but commuters were warned to expect significant delays during the morning rush hour.

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