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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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Israel Vows Swift Retaliation Against Iran Amid Renewed Tensions

Israeli Defence Minister Israel Katz issued a stark warning on Thursday, declaring that Israel would strike Iran again if it perceives any threat from Tehran. Speaking at an air force graduation ceremony, Katz emphasized Israel’s readiness to respond with overwhelming force.

“Israel’s long arm will reach you in Tehran, Tabriz, Isfahan—anywhere you try to threaten or harm Israel. There is no place to hide,” Katz stated. “If we must return, we will do so with greater force”.

This statement follows a tense June in which Israel launched a 12-day air campaign targeting Iranian nuclear sites, citing concerns over Iran’s alleged progress toward nuclear weapons development—a claim Iran denies. The conflict ended with a U.S.-brokered ceasefire announced by President Donald Trump on June 23.

The renewed rhetoric signals lingering volatility in the region, with both nations remaining on high alert. Observers fear that any escalation could reignite broader hostilities across the Middle East.

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