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...
Post a Comment
Read more

article

Labels

Armenia’s Gyumri Erupts in Protest After Mayor’s Arrest on Bribery Charges

In Armenia’s second-largest city early Monday masked special forces entered Gyumri City Hall, detaining opposition mayor Vardan Ghukasyan and several other officials. The operation, carried out under the direction of the Anti-Corruption Committee (ACC), has sparked widespread outrage among residents and opposition groups, who denounce the move as a political crackdown by the Pashinyan government.



Police in Armenia’s second-largest city, Gyumri, detained Mayor Vardan Ghukasyan on bribery charges, sparking immediate protests outside city hall. Demonstrators gathered as law enforcement escorted the mayor from his office, accusing authorities of politically motivated persecution.

According to Armenia’s Anti-Corruption Committee, Ghukasyan and several officials are suspected of demanding a bribe of around $10,000 in exchange for falsifying documents to protect an illegally constructed building from demolition. In total, eight individuals, including the city’s chief architect, were arrested in connection with the case.

The arrest comes amid heightened political tensions ahead of next year’s parliamentary elections. Ghukasyan is a known ally of former president Robert Kocharyan, a pro-Russian opposition leader. Prime Minister Nikol Pashinyan’s government, which rose to power in 2018 on an anti-corruption platform, has faced criticism from opponents who claim the crackdown disproportionately targets political rivals.

Protests in Gyumri quickly escalated, with dozens detained as demonstrators clashed with security forces. Authorities have since opened investigations into what they described as “mass riots” following the unrest.

The case highlights Armenia’s deepening political divide, as anti-corruption efforts collide with accusations of selective justice in the run-up to national elections.



Labels:

Comments

Post a Comment