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...

article

Trump Warns Democrats of Lasting Cuts as Shutdown Looms

The sun sets behind the U.S. Capitol dome, on the day U.S. President Donald Trump met with top congressional leaders from both parties, just ahead of a September 30 deadline to fund the government and avoid a shutdown, in Washington, D.C., U.S., September 29, 2025.

President Donald Trump warned congressional Democrats that a looming government shutdown could trigger “irreversible” actions, including permanent cuts to programs and benefits they support. Speaking from the Oval Office, Trump suggested that his administration could use the shutdown to downsize federal operations in ways that would be difficult to reverse later.

Trump praised budget director Russell Vought for his ability to trim spending, framing the shutdown as an opportunity to reduce what he described as “fraud, waste, and abuse” in government programs. He emphasized that Democrats were “taking a risk” by holding out for expanded health benefits and other provisions in the funding bill.

The standoff comes as Congress faces a midnight deadline to keep the government open. Without a deal, federal agencies will begin furloughing workers and suspending non-essential services. Past shutdowns have disrupted air travel, delayed small business loans, and halted environmental cleanup efforts.

Democrats argue that Republicans are refusing to extend critical health subsidies, while Trump insists that the shutdown could be avoided if Democrats drop their demands. With no breakthrough in sight, the U.S. is bracing for its 15th government shutdown since 1981.


Comments