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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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Trump Weighs Iran Strike Amid Rising Tensions, Decision Expected Within Two Weeks



President Donald Trump is expected to decide within the next two weeks whether the United States will launch military strikes against Iran’s nuclear facilities, according to a statement from the White House on Thursday. The announcement comes amid escalating hostilities between Iran and Israel, with both nations exchanging missile attacks and targeting critical infrastructure.

White House Press Secretary Karoline Leavitt conveyed Trump’s message, stating that the president is leaving room for diplomacy but is prepared to act if necessary. “Based on the fact that there is a chance for substantial negotiations that may or may not take place with Iran in the near future, I will make my decision on whether or not to go within the next two weeks,” Trump said.

The president’s deliberation follows reports of Iranian missile strikes on Israeli cities, including a direct hit on Soroka Medical Center in Beersheba, which caused significant damage and injuries. In response, Israel has intensified its military campaign, targeting Iran’s nuclear infrastructure, including the Arak heavy water reactor.

Trump’s decision is expected to hinge on three key factors: the necessity of a strike, the risk of prolonged U.S. involvement in the Middle East, and the likelihood of successfully dismantling Iran’s nuclear capabilities. While diplomatic channels remain open, including potential talks in Geneva between Iran and European leaders, the administration has made it clear that any agreement must eliminate Iran’s ability to enrich uranium.

As the world watches closely, the next two weeks could determine whether the U.S. joins Israel in a broader military campaign or pursues a last-minute diplomatic breakthrough. Either path carries profound implications for regional stability and global security.

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