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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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Partisan Divide Deepens as U.S. Shutdown Deadline Approaches

A view of the U.S Capitol dome in Washington one day ahead of a Sept. 30 deadline to fund the government and avoid a shutdown.

With just hours left before government funding expires, Republicans and Democrats remain locked in a bitter standoff that threatens to trigger a partial U.S. government shutdown.

At the heart of the impasse are competing priorities: Democrats are demanding the extension of health care subsidies and the reversal of recent Medicaid cuts, while Republicans are pushing for a short-term funding bill that maintains current spending levels without additional provisions.

President Donald Trump met with congressional leaders from both parties at the White House on Monday, but the talks ended with little sign of compromise. Senate Democratic Leader Chuck Schumer described “very large differences” between the two sides, while Republican leaders accused Democrats of holding government funding “hostage” over health care demands.

If no agreement is reached by midnight Tuesday, federal agencies will begin shutting down, nonessential employees will be furloughed, and key economic data releases—including the September jobs report—will be delayed. The looming shutdown would mark yet another chapter in a long history of partisan brinkmanship, with both sides bracing for public backlash.


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