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

Political Standoff Forces U.S. Government Shutdown, Millions Affected

The last shutdown was in Trump’s first term when he demanded that Congress give him money for his U.S.-Mexico border wall.

The United States federal government officially shut down on October 1, 2025, after lawmakers failed to reach an agreement on a funding package for the new fiscal year. The deadlock stems from sharp partisan divisions over healthcare subsidies, federal spending levels, and foreign aid allocations.

This marks the 21st government shutdown in modern U.S. history and the third under President Donald Trump. Roughly 900,000 federal employees have been furloughed, while another 700,000 are working without pay in essential roles such as air traffic control, border security, and Medicare services.

The shutdown’s impact is already being felt nationwide. National parks and museums are closing or operating with limited services, while federal agencies like the CDC and NIH face suspended operations. The travel industry is bracing for disruptions, with longer airport lines and potential delays expected as essential staff continue working without pay.

Economists estimate the shutdown could cost the U.S. economy hundreds of millions of dollars per day if it drags on. While Social Security and mail delivery remain unaffected, millions of Americans are facing uncertainty as the political stalemate continues.

The duration of the shutdown will depend on whether Congress can break the impasse in the coming days. Until then, the nation faces both economic strain and widespread disruption to public services.


Labels:

Comments

Post a Comment