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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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Washington Stresses Greenland’s Autonomy Amid Alleged Influence Efforts

 

Mark Stroh, the top U.S. diplomat in Denmark, arrives at the Ministry of Foreign Affairs in Copenhagen in Wednesday.


The United States has reiterated its support for Greenland’s right to decide its own future following Danish intelligence reports alleging that private U.S. citizens attempted to sway political sentiment in the Arctic territory.

Chargé d’Affaires Mark Stroh met with Danish and Greenlandic officials in Copenhagen after Denmark summoned him in response to a report by public broadcaster DR. The report claimed at least three Americans with ties to former President Donald Trump were suspected of promoting opposition to Danish rule in an effort to encourage Greenland’s secession.

In a statement, the U.S. State Department emphasized that Washington “respects the right of the people of Greenland to determine their own future” and noted that the U.S. government does not control the actions of private citizens.

Greenland, a semi-autonomous territory within the Kingdom of Denmark, retains the legal right to declare independence. Its Prime Minister Jens-Frederik Nielsen underscored expectations that “international law and sovereignty will be respected”.

The allegations come amid heightened geopolitical interest in Greenland’s strategic location and mineral resources, with past U.S. administrations openly expressing interest in acquiring the territory.

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