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5 Things to Know Today: BoC Hike Odds, Fixed Rates, Tariff Swap, $100 Oil & Budget Countdown (Oct. 25)

  Canadian Money Brief • Sunday, October 25, 2026 A big week for your wallet starts Wednesday. Here are the five things Canadians should know before it begins. 1 The Bank of Canada decides Wednesday, and markets lean toward a hike The Bank of Canada announces its rate decision at 9:45 a.m. ET on Wednesday, Oct. 28, alongside a new Monetary Policy Report. Prediction markets price roughly a 79% chance of a quarter-point hike to 2.50%, up sharply after Governor Tiff Macklem’s hawkish comments at the IMF meetings, though analysts remain split and some expect a “hawkish hold.” The U.S. Fed also decides that day. What it means for you: Variable-rate mortgage and HELOC holders feel it first. A 0.25-point hike works out to roughly $70 more per month on a $500,000 variable mortgage (25-year amortization), and prime would move from 4.45% to 4.70%. A hold means little change until the next decision on Dec. 9. 2 Fixed mortgage rates have already moved without the Bank Fixed rates follow bond ...
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Air Canada Flight Attendants Overwhelmingly Reject Wage Offer, Sending Dispute to Mediation

 

Air Canada flight attendants hold a silent protest at Montreal-Pierre Elliott Trudeau International Airport in Montreal, Monday, Aug. 11, 2025



Air Canada’s more than 10,000 flight attendants have voted decisively against the wage portion of a tentative agreement that ended last month’s strike, with 99.1% rejecting the offer. The deal, reached on August 19 after a disruptive work stoppage, included wage increases and new pay provisions for time spent on the ground, but union members said the proposed raises fell short of addressing cost-of-living concerns.

While most elements of the agreement — including pension rules, health benefits, vacation terms, and ground pay — are now considered final, wages will move to mediation as previously agreed by both Air Canada and the Canadian Union of Public Employees (CUPE). If mediation fails, the matter will proceed to binding arbitration.

The rejected proposal had offered junior flight attendants a 12% salary increase this year and senior members an 8% bump, followed by smaller annual raises through 2028. It also introduced partial pay for pre-flight duties, starting at 50% of the hourly rate and rising to 70% over four years.

Despite the setback, there will be no strike or lockout during the mediation process, and Air Canada says flights will continue to operate as scheduled.


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