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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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North Korea Reaffirms Nuclear Arsenal as Core to Sovereignty at UN

 

Vice Minister for Foreign Affairs for North Korea Kim Son Gyong addresses the 80th session of the United Nations General Assembly at United Nations headquarters, Monday, Sept. 29, 2025.


North Korea has declared it will never abandon its nuclear weapons program, calling the demand for denuclearization an attack on its sovereignty and right to exist. Speaking before the United Nations General Assembly, Vice Foreign Minister Kim Son Gyong said that nuclear weapons are enshrined in the country’s constitution and are essential to maintaining a “balance of power” on the Korean Peninsula.

Kim argued that U.S.-led military exercises with South Korea and Japan represent a growing threat of aggression, insisting that Pyongyang’s nuclear arsenal is the only effective deterrent. “We will never walk away from this position,” he stated, rejecting international calls for disarmament.

The remarks mark the first time since 2018 that a senior North Korean official has addressed the UN gathering in person. While the speech was less combative than some of Pyongyang’s past rhetoric, it underscored the regime’s unwavering stance: nuclear weapons are non-negotiable.

North Korea has been under UN sanctions since 2006 for its nuclear and ballistic missile programs, but enforcement has weakened as Russia and China push for easing restrictions. Analysts say the speech signals Pyongyang’s intent to strengthen ties with these allies while resisting U.S. pressure.

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