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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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Ceasefire Talks in Cairo Amid Intensifying Gaza Strikes

 

Palestinians seek aid supplies from trucks that entered Gaza through Israel, in Beit Lahia, in the northern Gaza Strip.


Israeli Prime Minister Benjamin Netanyahu has reiterated that Palestinians in Gaza will be “allowed to exit” the enclave, as militant group Hamas engages in ceasefire negotiations with Egyptian mediators in Cairo. The talks, led by Hamas chief negotiator Khalil Al-Hayya, aim to halt the nearly two-year conflict, secure humanitarian aid, and address governance in Gaza.

While discussions continue, Israeli forces have intensified air and ground assaults on Gaza City, particularly in the Zeitoun and Shejaia neighborhoods, resulting in multiple civilian casualties. The proposed ceasefire framework reportedly includes the possibility of Hamas relinquishing control of Gaza and disarming, though Hamas insists it will not lay down arms before an Israeli withdrawal.

International concern over the humanitarian crisis is mounting, with foreign ministers from 24 countries urging Israel to allow unrestricted aid into Gaza. Israel maintains it is facilitating deliveries, citing hundreds of aid trucks entering daily, while accusing Hamas of diverting supplies.

The outcome of the Cairo talks remains uncertain, but the stakes are high as both the violence and humanitarian toll escalate.

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