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5 Things to Know Today: BoC Hike Odds, Fixed Rates, Tariff Swap, $100 Oil & Budget Countdown (Oct. 25)

  Canadian Money Brief • Sunday, October 25, 2026 A big week for your wallet starts Wednesday. Here are the five things Canadians should know before it begins. 1 The Bank of Canada decides Wednesday, and markets lean toward a hike The Bank of Canada announces its rate decision at 9:45 a.m. ET on Wednesday, Oct. 28, alongside a new Monetary Policy Report. Prediction markets price roughly a 79% chance of a quarter-point hike to 2.50%, up sharply after Governor Tiff Macklem’s hawkish comments at the IMF meetings, though analysts remain split and some expect a “hawkish hold.” The U.S. Fed also decides that day. What it means for you: Variable-rate mortgage and HELOC holders feel it first. A 0.25-point hike works out to roughly $70 more per month on a $500,000 variable mortgage (25-year amortization), and prime would move from 4.45% to 4.70%. A hold means little change until the next decision on Dec. 9. 2 Fixed mortgage rates have already moved without the Bank Fixed rates follow bond ...
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US Apologizes After Georgia Raid Detains Hundreds of Korean Workers

Members of the press interview a South Korean worker who was detained in a huge immigration raid last week at the site of a US car battery project involving Hyundai Motor and LG Energy Solution in the US state of Georgia, at the car park of the Incheon International Airport in Incheon, South Korea.

A senior U.S. diplomat has expressed “deep regret” over a recent immigration raid in Georgia that led to the detention of more than 300 South Korean workers at a Hyundai Motor battery plant. Deputy Secretary of State Christopher Landau met with South Korea’s First Vice Foreign Minister Park Yoon-joo in Seoul, where both sides agreed to use the incident as a turning point to strengthen bilateral ties and improve visa policies.

The workers, who returned to South Korea last week to emotional reunions, were detained during a large-scale operation that shocked the Korean public and strained relations between the two allies. Seoul has urged Washington to establish clearer guidelines for existing business visas and to create a new visa category for Korean professionals, especially those involved in major investment projects in the U.S.

Landau acknowledged the significant contributions of Korean companies to U.S. manufacturing and assured that the detained workers would face no disadvantages upon re-entry. Both governments pledged to expedite consultations to prevent similar incidents in the future, underscoring the importance of stable labor mobility in sustaining economic cooperation.

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