Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Showdown in Washington: Shutdown Looms as Talks Collapse

 


With just hours left before the federal funding deadline, President Donald Trump and top congressional leaders left a high-stakes White House meeting on September 29 without a deal, pushing the government to the brink of a shutdown.

The discussions, described as “frank and direct,” exposed deep divisions between Republicans and Democrats. Republicans are pressing for a short-term funding extension to keep the government open until late November, while Democrats are demanding the reversal of recent Medicaid cuts and the extension of health care subsidies set to expire this year.

House Speaker Mike Johnson blamed Democrats for refusing to accept what he called a “simple solution,” while Senate Minority Leader Chuck Schumer countered that Republicans were holding health care access “hostage” in the negotiations. Vice President JD Vance signaled little optimism, telling reporters, “I think we’re headed to a shutdown”.

If no agreement is reached by midnight on October 1, federal agencies will begin closing their doors, with millions of workers facing furloughs and critical services disrupted. The standoff marks the most serious budget crisis of Trump’s second term and underscores the widening partisan gulf in Washington.


Labels:

Comments

Post a Comment