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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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E1 Settlement Approval Deepens Rift Over Two-State Solution

 

Israeli Finance Minister Bezalel Smotrich gestures, on the day of a press conference regarding settlements expansion for the long-frozen E1 settlement, that would split East Jerusalem from the occupied West Bank, near the Israeli settlement of Maale Adumim in the Israeli-occupied West Bank. 


In a move drawing sharp international condemnation, Israel has granted final approval for the long-disputed E1 settlement project in the occupied West Bank — a development critics say could effectively sever the territory and extinguish prospects for a Palestinian state.

The plan, championed by Finance Minister Bezalel Smotrich, calls for the construction of roughly 3,400–3,500 housing units linking the Maale Adumim settlement to Jerusalem. Supporters within Israel’s right-wing coalition frame it as a strategic safeguard for national security and a fulfillment of long-standing political promises. Smotrich declared, “The Palestinian state is being erased from the table, not with slogans but with actions”.

Opponents — including the United Nations, European governments, and Palestinian leaders — warn the project will bisect the West Bank, isolate Palestinian communities, and undermine the geographic continuity essential for a viable two-state solution. The German government reiterated that such settlement activity violates international law, while the UN cautioned it would “drive a stake through the heart” of peace efforts.

The E1 plan, frozen in previous years under U.S. and European pressure, could see infrastructure work begin within months and home construction within a year. Its approval comes amid heightened tensions in the West Bank and ongoing conflict in Gaza, further complicating the already fragile path toward a negotiated resolution.

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