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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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BCGEU Slams B.C. Government Over Failed Return to Bargaining Table



Negotiations between the B.C. government and the B.C. General Employees’ Union (BCGEU) collapsed almost immediately on Monday, with union president Paul Finch accusing the province of staging a “cheap stunt” rather than presenting a serious offer.

Finch said government negotiators arrived three hours late and offered only a marginally improved wage proposal, far short of what workers facing an affordability crisis had demanded. “Talks broke off today, but they didn’t really start,” Finch told members gathered outside a government office in Victoria.

The BCGEU, representing 34,000 public sector workers, has been on strike for five weeks in what is believed to be the longest civil service strike in B.C.’s history. The union has been pushing for wage increases of 8.25 per cent over two years, but countered with a proposal of four per cent annually. The government’s latest offer amounted to five per cent over two years.

With no progress at the table, Finch warned that job action will escalate, including larger demonstrations and possible rallies outside the B.C. legislature when lawmakers return in early October. Pickets remain in place at liquor and cannabis distribution warehouses, government offices, and dozens of provincial liquor stores.


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