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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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Hostage Crisis Deepens as Hamas Reports Loss of Contact Amid Gaza Offensive

 

An Israeli tank maneuvers in Gaza, as seen from the Israeli side of the border, September 28, 2025.


Hamas’s armed wing, the Al-Qassam Brigades, announced Sunday that it has lost contact with two Israeli hostages as Israeli forces pressed deeper into Gaza City. The group blamed heavy bombardments and advancing tanks for severing communication, saying the captives’ fate remains unknown.

The development comes as the Israel Defense Forces (IDF) intensified operations in several Gaza City neighborhoods, including Sabra, Tel Al-Hawa, and Sheikh Radwan. The IDF reported striking more than 140 targets in the past 24 hours, while ordering civilians to evacuate from multiple districts.

Gaza’s health ministry said at least 77 Palestinians were killed in the latest wave of strikes, with emergency services warning that many residents remain trapped under rubble or cut off from aid.

Hamas called on Israel to halt its offensive for 24 hours to allow attempts to locate the missing hostages. Israeli officials have not publicly responded to the appeal.

Of the 251 hostages taken during Hamas’s October 7, 2023 attack, Israeli authorities say 48 remain in Gaza, with roughly 20 believed to be alive. The uncertainty surrounding their condition continues to weigh heavily on ongoing diplomatic efforts, as international mediators push for a ceasefire and renewed negotiations.


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