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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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Alberta Teachers Overwhelmingly Reject Contract, Provincewide Strike Looms

 


Alberta is bracing for its first provincewide teachers’ strike in decades after nearly 90 per cent of educators voted to reject the government’s latest contract offer. The Alberta Teachers’ Association (ATA), representing more than 51,000 teachers across public, Catholic, and francophone schools, confirmed that the strike is set to begin on October 6.

The rejected deal included a 12 per cent wage increase over four years, a promise to hire 3,000 new teachers and 1,500 educational assistants by 2028, and government coverage of COVID-19 vaccine costs for teachers. Despite these provisions, ATA president Jason Schilling said the offer failed to address classroom realities, including overcrowding and underfunding.

The strike is expected to disrupt learning for more than 700,000 students across 2,500 schools. The government expressed disappointment, with Finance Minister Nate Horner questioning whether the union leadership truly reflected members’ priorities. Premier Danielle Smith is expected to address the issue in the coming days.

Parents and school boards are now preparing for widespread disruptions, while the ATA has signaled it remains open to further negotiations if the province returns with a stronger proposal.


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