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5 Things to Know Today: BoC Hike Bets, TSX Slide, Oil Near $100 (Oct. 23)

  Canadian Money Brief • Friday, October 23, 2026 The Bank of Canada decision is five days away, the TSX gave back most of Wednesday's gains, and oil is flirting with US$100 again. Here are the five things Canadian wallets need to know today. 1. Markets Lean Toward a Bank of Canada Hike on Oct. 28 A decision that looked like a ninth straight hold is now a genuine coin flip with a hawkish tilt. After Governor Tiff Macklem warned that there is "no resolution in sight" for the Middle East conflict, BMO and Desjardins flipped to a hike call, Scotiabank firmed up its call and Goldman Sachs joined them, all looking for a quarter-point move to 2.50%. Overnight swaps priced about an 87% chance of a hike earlier this week, though other economists still argue for a hold, pointing to September's 68,000 job losses and a 6.5% unemployment rate. What it means for you: A quarter-point hike adds roughly $21 a month in interest for every $100,000 of variable-rate borrowing (HELOCs an...
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Stiles Secures NDP Leadership Backing, Pledges Fierce Opposition to Ford

 

                                            Ontario NDP Leader Marit Stiles

Ontario NDP Leader Marit Stiles has survived her first leadership review, earning the support of 68 per cent of party delegates at the convention in Niagara Falls. The vote ensures she will remain at the helm of the New Democrats as they continue their role as the Official Opposition at Queen’s Park.

Stiles, who was acclaimed leader in 2023, framed the result as a mandate to sharpen the party’s focus on challenging Premier Doug Ford’s Progressive Conservative government. In her address to delegates, she vowed to “hold Doug Ford to account,” criticizing his record on jobs, health care, and affordability.

The outcome comes just a week after Ontario Liberals forced their leader Bonnie Crombie to resign following a weaker 57 per cent endorsement, underscoring the higher stakes for Stiles heading into the review.

While the NDP lost ground in February’s snap election—dropping to 27 seats and finishing third in the popular vote—they retained Official Opposition status. Stiles has argued that stability and unity are essential for the party to position itself as the true alternative to Ford’s government.

Political observers note that while 68 per cent is a passable result, it leaves room for Stiles to strengthen her standing within the party. For now, she remains firmly in place, with her sights set on building momentum ahead of the next provincial election.


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