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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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Israel Launches Gaza City Offensive Amid Famine and Global Outcry

                                   Displaced Palestinians flee from one area to another in Gaza City on Friday. 

The Israeli military has declared Gaza City a “dangerous combat zone” and confirmed it has begun the initial stages of a long-anticipated offensive on the war-ravaged enclave’s largest urban center. The move ends daily humanitarian pauses that had allowed limited aid deliveries, intensifying fears for hundreds of thousands of displaced residents already enduring famine conditions.

Military spokesperson Avichay Adraee said forces are operating “with great force” on the city’s outskirts, vowing to dismantle Hamas and secure the release of remaining hostages. Israel also announced the recovery of two hostages’ remains, including Ilan Weiss, killed during the October 7, 2023 Hamas-led attack.

The United Nations and aid agencies have condemned the escalation, warning of catastrophic humanitarian consequences as food shortages worsen and medical facilities face collapse. Despite mounting international pressure, Israeli leaders insist the operation is essential to neutralize Hamas’ stronghold in Gaza City.


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