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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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Trump Escalates Clash With Illinois Leaders Amid Troop Deployment to Chicago

                                        A law enforcement officer confronts a demonstrator in Chicago 

U.S. President Donald Trump intensified his confrontation with Democratic officials in Illinois on Wednesday, calling for the imprisonment of Chicago Mayor Brandon Johnson and Governor JB Pritzker as his administration prepared to deploy National Guard troops to the city.

Trump accused both leaders of failing to protect federal immigration officers, writing on his social media platform: “Chicago Mayor should be in jail for failing to protect ICE Officers! Governor Pritzker also!”. Neither official has been accused of wrongdoing.

The remarks came as hundreds of National Guard soldiers, including units from Texas, assembled near Chicago despite strong opposition from state and local leaders. Johnson recently signed an executive order creating an “ICE Free Zone,” barring federal immigration agents from using city property, while Pritzker denounced the troop deployment as an “invasion of Illinois”.

Both officials responded defiantly. Johnson said Trump’s comments echoed past attempts to target Black leaders, while Pritzker warned that the president’s rhetoric signaled a slide toward authoritarianism.

The deployment is part of Trump’s broader crackdown on immigration and crime in Democratic-led cities. While the administration has described Chicago as plagued by lawlessness, local officials note that violent crime has been declining since its pandemic-era peak.

The escalating standoff has sparked protests in Chicago and raised constitutional questions over the limits of federal power in domestic law enforcement.


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