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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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Zelensky Sounds Alarm Over Prolonged Power Outage at Zaporizhzhia Nuclear Plant

 

Ukraine's Zaporizhzhia nuclear plant, which is Europe's largest with six reactors and occupied by Russia since 2022, needs power to prevent a meltdown.


Ukrainian President Volodymyr Zelensky has warned of a “critical” situation at the Russian-occupied Zaporizhzhia Nuclear Power Plant, which has been cut off from the national power grid for seven consecutive days — the longest outage since the start of Russia’s full-scale invasion in 2022.

The facility, Europe’s largest nuclear plant, is currently relying on emergency diesel generators to maintain vital cooling and safety systems. Zelensky revealed that one of the generators has already failed, raising fears of a potential nuclear incident if power is not restored soon.

“Russian shelling has cut the plant off from the electricity network,” Zelensky said, accusing Moscow of deliberately obstructing repairs. He stressed that the situation poses a threat “to absolutely everyone,” warning that no other conflict in history has seen such risks imposed on a nuclear facility.

The International Atomic Energy Agency (IAEA) has expressed concern, noting that while the generators are keeping the plant stable for now, the reliance on backup systems is unsustainable. Efforts are underway to restore external power, but both Kyiv and Moscow continue to trade blame for the outage.

The Zaporizhzhia plant, located near the front lines in Enerhodar, once supplied about 20% of Ukraine’s electricity. Its six reactors remain shut down, but the facility still requires constant power to prevent a meltdown — a danger that underscores the global stakes of the ongoing war.



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