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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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Air Canada–CUPE Talks Collapse, Strike and Lockout Loom

 

Labour negotiations between Air Canada and the Canadian Union of Public Employees (CUPE), representing roughly 10,000 flight attendants, collapsed just hours before the strike notice deadline on August 13, 2025.

CUPE issued a 72‑hour strike notice shortly after midnight, setting the stage for a potential walkout as early as 12:01 a.m. EDT on August 16. In response, Air Canada served its own 72‑hour lockout notice and announced plans for a phased suspension of most mainline and Rouge flights over the next three days.

The airline said it had offered a 38% total compensation increase over four years, along with improvements to pensions, benefits, crew rest, and ground pay. CUPE countered that members face “unpaid labour” for pre‑ and post‑flight duties and have been earning “poverty wages” despite the demands of the job.

Both sides accuse the other of walking away from meaningful dialogue. Air Canada has requested government‑directed arbitration, but CUPE maintains it is prepared to strike if necessary.

If no agreement is reached, the dispute could disrupt thousands of travel plans during the busy summer season.

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