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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 Unveils Sweeping Gaza Peace Blueprint with Global Oversight

A Trump economic development plan to rebuild and energize Gaza will be created by convening a panel of experts.

U.S. President Donald J. Trump has announced a 20-point comprehensive peace plan aimed at ending the devastating Gaza war, which has claimed tens of thousands of lives and left the enclave in ruins. Standing alongside Israeli Prime Minister Benjamin Netanyahu at the White House, Trump outlined a framework that combines an immediate ceasefire, hostage exchanges, humanitarian relief, and long-term reconstruction.

Under the proposal, all hostages held in Gaza—alive or deceased—would be returned within 72 hours of Israel’s acceptance. In exchange, Israel would release over 1,900 Palestinian prisoners, including women and children. The plan also calls for Hamas to disarm and relinquish political control, with members offered amnesty or safe passage abroad if they renounce violence.

A temporary technocratic Palestinian administration, supported by international experts, would govern Gaza during a transitional period. Oversight would be provided by a newly created “Board of Peace” chaired by Trump, with former British Prime Minister Tony Blair among its members. This body would coordinate aid, infrastructure rebuilding, and economic development initiatives.

The plan has drawn mixed reactions worldwide. Netanyahu endorsed it as a path to dismantle Hamas’ military capabilities, while the Palestinian Authority welcomed it as a step toward unifying Palestinian institutions and advancing a two-state solution. Hamas, however, has yet to formally accept, with internal divisions complicating its response.

Supporters argue the initiative offers the best chance in years to halt the bloodshed and rebuild Gaza. Critics warn that requiring Hamas’ disarmament could stall progress and risk prolonging the conflict. For now, the world watches closely as both sides weigh whether this ambitious plan can finally deliver peace to Gaza.


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