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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...
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Quebec Rejects Federal Funds for Race and Culture Assessments in Justice System



The Quebec government has declined $6.64 million in federal funding intended to combat systemic racism in the criminal justice system, citing disagreement with the program’s underlying approach. The funding, offered to provinces and territories in 2021, was designed to support the use of Impact of Race and Culture Assessments (IRCAs) — reports that examine how systemic racism and cultural factors may have influenced an offender’s actions before sentencing.

While most provinces have embraced the initiative, Quebec’s Justice Department stated it does not subscribe to the concept of systemic racism as the basis for such measures. Advocates, including the Montreal-based Viola Desmond Justice Institute, argue the refusal leaves marginalized defendants at a disadvantage, as legal aid funding for these assessments remains unavailable in the province.

Despite the government’s stance, the first IRCA in Quebec was recently presented in court, leading to a reduced sentence for a Black defendant whose life story reflected the impacts of racism and poverty. Supporters vow to continue pushing for the routine use of these assessments, with or without provincial backing.

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