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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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Carney Eases Trade Tensions with Larger-Than-Expected Tariff Rollback

 

                                               Prime Minister Mark Carney


In a surprise move aimed at cooling trade frictions, Finance Minister Mark Carney announced that Canada will roll back countertariffs on U.S. goods by a greater margin than initially planned.

The rollback, which affects a wide range of American imports, is being framed as a strategic step to stabilize cross-border trade and reduce costs for Canadian businesses and consumers. Originally, Ottawa had signaled a more modest reduction, but Carney confirmed that the government is accelerating the pace of tariff relief to foster stronger economic ties.

Analysts suggest the decision could help ease inflationary pressures in Canada, particularly on consumer goods that had been subject to higher duties. It may also open the door for renewed negotiations on broader trade issues between the two countries.

While some domestic industries remain cautious about increased competition from U.S. imports, business groups have largely welcomed the move, calling it a pragmatic step toward restoring predictability in North American trade.


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