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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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Fragile Gaza Truce Struggles Amid Renewed Clashes

                                  Palestinians walk past the rubble of destroyed buildings in Gaza City

Efforts to sustain peace in Gaza remain tenuous as violence between Israeli forces and Hamas continues to undermine a ceasefire agreement signed in early October. Despite international acclaim for the truce, progress toward lasting stability has been slow, with fresh clashes highlighting the fragility of the deal.

On November 24, Israeli forces killed three Palestinians near the demarcation line separating areas of Israeli control. According to Palestinian medics, two were killed and another wounded by a drone strike east of Khan Younis, while a tank shell claimed another life in Gaza City. Israel’s military stated that its actions targeted “terrorists” crossing into restricted zones, posing an immediate threat to troops.

The ceasefire, brokered six weeks ago, was intended to halt two years of devastating warfare. However, reports suggest Israel has violated the truce nearly 500 times since it began, resulting in hundreds of civilian deaths, including women and children. Meanwhile, humanitarian efforts continue under the supervision of international coordination centers, but optimism is tempered by ongoing hostilities.

The United States and its allies are exploring contingency plans should the truce collapse entirely, including proposals for a civilian Palestinian administration to replace Hamas in governing Gaza. Yet, with demolitions of homes and infrastructure persisting—over 1,500 buildings reportedly destroyed since the ceasefire began—the situation remains volatile.

In summary, while the truce brought a brief respite, renewed violence and unresolved disputes threaten to unravel fragile progress, leaving Gaza’s future uncertain.


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