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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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Trump and Netanyahu Announce Gaza Peace Plan, Await Hamas Response

 

Israel's Prime Minister Benjamin Netanyahu shakes hands with President Donald Trump after a news conference in the State Dining Room of the White House, Monday, Sept. 29, 2025, in Washington.


U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu unveiled a joint plan they say could bring an end to the devastating war in Gaza, contingent on Hamas agreeing to the terms.

The proposal, released at the White House, outlines a 20-point framework that includes an immediate ceasefire, the release of all hostages within 72 hours, and the withdrawal of Israeli forces from Gaza once Hamas disarms. In exchange, hundreds of Palestinian prisoners would be freed, and Gaza would be placed under a transitional Palestinian-led administration overseen by an international “Board of Peace,” chaired by Trump and joined by figures such as former British Prime Minister Tony Blair.

Netanyahu hailed the plan as a “decisive step” toward peace, emphasizing that Israel would regain its hostages and dismantle Hamas’ military capabilities. Trump warned that if Hamas rejects the deal, Israel would have full U.S. backing to continue military operations.

Hamas negotiators, briefed on the plan by Qatari and Egyptian mediators, said they are reviewing the proposal “in good faith” and will issue a response soon.

The announcement comes amid mounting international pressure on Israel over the humanitarian crisis in Gaza, where tens of thousands of Palestinians have been killed and much of the territory reduced to rubble. Several Western nations have recently recognized Palestinian statehood, further isolating Netanyahu’s government on the global stage.

For now, the fate of the plan rests with Hamas — and whether it will accept terms that demand disarmament in exchange for reconstruction and international oversight.


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