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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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Turkish Drones Shadow Gaza-Bound Flotilla Amid Rising Tensions

Boats, part of the Global Sumud Flotilla aiming to reach Gaza and break Israel's naval blockade, sail off Koufonisi islet, Greece

Turkey has deployed long-endurance drones to monitor the Global Sumud Flotilla, a convoy of around 40 civilian boats carrying aid and activists bound for Gaza. The flotilla, which includes parliamentarians, lawyers, and Swedish climate campaigner Greta Thunberg, resumed its journey after repairs in Greece following a drone attack last week that damaged several vessels.

Flight-tracking data shows the Turkish drones circling above the flotilla for several days, underscoring Ankara’s growing involvement in the mission. Italy, Spain, and Greece have also dispatched naval ships to shadow the convoy, though they have stressed their role is limited to humanitarian support rather than military engagement.

The flotilla is expected to reach Gaza within days, but its approach has heightened international concern. Israel has repeatedly warned it will prevent the boats from breaching its naval blockade, which it insists is legal under international law as part of its ongoing conflict with Hamas. Organizers of the flotilla, however, argue the mission is a peaceful effort to deliver aid to civilians in desperate need.

As the convoy sails east across the Mediterranean, the presence of multiple European navies and Turkish surveillance drones highlights the growing geopolitical stakes of what began as a grassroots humanitarian mission.

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