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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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Countdown to Crisis: U.S. Government Shutdown Nears as Deadline Looms

 

                              The deadline to avoid a government shutdown is 12.01 a.m. Eastern time on Wednesday.


With just hours left before the federal funding deadline, Washington is bracing for a partial government shutdown. Lawmakers remain locked in a bitter standoff, with Democrats pushing to extend healthcare subsidies under the Affordable Care Act, while Republicans refuse to include them in a short-term spending bill.

President Donald Trump is scheduled to meet with congressional leaders in a last-ditch effort to break the impasse. If no agreement is reached, the government will begin shutting down at 12:01 a.m. Wednesday, halting non-essential services, closing national parks, and furloughing thousands of federal employees.

The White House has already instructed agencies to prepare for potential mass layoffs, raising fears this shutdown could be more severe than previous ones. Analysts warn that the economic fallout could ripple quickly, delaying key reports like September’s jobs data and disrupting services relied upon by millions of Americans.

As the clock ticks down, both parties face mounting pressure to compromise—but with neither side showing signs of retreat, the nation edges closer to its largest shutdown in years.


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