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5 Things to Know Today: BoC Hike Bets, TSX Slide, Oil Near $100 (Oct. 23)

  Canadian Money Brief • Friday, October 23, 2026 The Bank of Canada decision is five days away, the TSX gave back most of Wednesday's gains, and oil is flirting with US$100 again. Here are the five things Canadian wallets need to know today. 1. Markets Lean Toward a Bank of Canada Hike on Oct. 28 A decision that looked like a ninth straight hold is now a genuine coin flip with a hawkish tilt. After Governor Tiff Macklem warned that there is "no resolution in sight" for the Middle East conflict, BMO and Desjardins flipped to a hike call, Scotiabank firmed up its call and Goldman Sachs joined them, all looking for a quarter-point move to 2.50%. Overnight swaps priced about an 87% chance of a hike earlier this week, though other economists still argue for a hold, pointing to September's 68,000 job losses and a 6.5% unemployment rate. What it means for you: A quarter-point hike adds roughly $21 a month in interest for every $100,000 of variable-rate borrowing (HELOCs an...
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Canada and UAE Deepen Economic Ties with Landmark Investment Pact

 

                               Carney signs UAE investment pact, launches trade talks during Abu Dhabi visit.


Canadian Prime Minister Mark Carney has signed a foreign investment protection agreement with the United Arab Emirates during his visit to Abu Dhabi, marking a significant step in strengthening bilateral economic relations. The pact establishes clear rules for private sector deals and is expected to encourage larger cross-border investments.

Alongside the agreement, both countries formally launched negotiations for a free trade deal, aiming toward a comprehensive economic partnership. This initiative could expand cooperation in key sectors such as energy, agriculture, infrastructure, and artificial intelligence, reflecting Canada’s ambition to diversify its global trade portfolio.

Carney’s trip is notable as the first visit by a Canadian prime minister to the UAE since 1983, underscoring the strategic importance of the Gulf nation in Canada’s foreign policy. The visit also comes amid international scrutiny of the UAE’s role in Sudan, adding a layer of geopolitical complexity to the talks.

During his stay, Carney met with Sultan Ahmed al-Jaber, the UAE’s Minister of Industry and Advanced Technology, and toured cultural landmarks, signaling a broader diplomatic engagement beyond trade. The investment pact and trade talks are expected to lay the groundwork for deeper economic integration between Canada and the UAE, potentially opening new opportunities for Canadian businesses in the Middle East.

In summary: Carney’s Abu Dhabi visit has produced a landmark investment pact and initiated trade negotiations, positioning Canada to expand its economic footprint in the Gulf region.

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