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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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Tragedy Strikes Michigan Church: Gunman Kills Four, Injures Eight

 

Emergency personnel work at the scene of a shooting which took place at the Church of Jesus Christ of Latter-day Saints,


A Sunday morning service at The Church of Jesus Christ of Latter-day Saints in Grand Blanc turned into a scene of horror when a gunman drove a pickup truck into the building before opening fire on worshippers. Authorities confirmed that at least four people were killed and eight others wounded in the attack.

The suspect, identified as 40-year-old Thomas Jacob Sanford of Burton, Michigan, exchanged gunfire with police in the church parking lot and was killed at the scene. Officials said Sanford also attempted to set the church ablaze using gasoline, leaving the chapel a “total loss” after flames engulfed the structure.

Hundreds of congregants were inside at the time. Police reported that one victim died at the scene, another at the hospital, and two more were found deceased inside the burned building. Of the eight injured, seven are in stable condition and one remains critical.

The FBI is leading the investigation, calling the incident an act of “targeted violence.” Authorities have not yet determined a motive. Michigan Governor Gretchen Whitmer expressed heartbreak for the community, while President Donald Trump urged prayers for the victims and called for an end to what he described as an “epidemic of violence”.

As investigators sift through the rubble, the Grand Blanc community is left grieving and searching for answers in the wake of one of the deadliest attacks on a place of worship in recent Michigan history.


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