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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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Russia Deploys Kalibr-Armed Warship to Mediterranean Amid Rising Tensions

On July 13, 2025, Russia deployed three warships to the Mediterranean Sea, one of which is armed with Kalibr cruise missiles, according to a report from the Ukrainian Navy. The missile carrier is capable of launching up to four Kalibr missiles, adding a new layer of strategic presence in the region.

At the same time, Ukrainian officials confirmed that no Russian naval vessels were detected in the Black Sea or the Sea of Azov ,marking a shift in maritime focus. Over the past 24 hours, six vessels transited the Kerch Strait toward the Black Sea, with three continuing toward the Bosphorus Strait, while five ships entered the Sea of Azov.

This deployment comes amid ongoing hostilities in Ukraine, where Russian forces reportedly suffered significant losses in recent combat engagements. Analysts suggest the move may be part of a broader effort by Moscow to project power beyond its immediate borders, especially as tensions remain high across multiple fronts.

The presence of Kalibr-equipped ships in the Mediterranean could signal Russia’s intent to maintain a flexible strike capability in a region that has seen increasing geopolitical friction.

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