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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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Hong Kong’s Deadliest Blaze in Decades Leaves 128 Dead, Arrests Mount


                                           A huge fire burns through a high rise building in Hong Kong.

A catastrophic fire that tore through the Wang Fuk Court housing estate in Hong Kong’s Tai Po district has claimed at least 128 lives, making it one of the city’s worst disasters in nearly 80 years. The blaze, which began Wednesday afternoon, engulfed seven high-rise buildings and burned for more than 40 hours before firefighters declared it largely extinguished.

Authorities revealed that eight more individuals have been arrested in connection with the tragedy, bringing the total number of detentions to 14. Investigators are probing allegations of corruption and unsafe renovation practices, including the use of bamboo scaffolding and protective mesh that may have accelerated the spread of flames.

The devastation has left around 200 people still unaccounted for, while 79 others were injured, including 12 firefighters. Families continue to search hospitals and temporary shelters for missing loved ones, as officials warn that the death toll could rise further.

Fire Services officials reported that some alarms in the complex failed to function, raising questions about safety standards in public housing. Many of the victims were elderly residents who struggled to escape as the inferno spread rapidly from one tower to the next.

Hong Kong’s Security Chief Chris Tang confirmed that dozens of bodies remain unidentified, underscoring the scale of the tragedy. The government has pledged a full investigation, promising transparency as grieving families demand accountability.

This disaster has sparked widespread mourning across Hong Kong, with vigils planned throughout the city. As rescue teams continue their grim search, the incident highlights urgent concerns about building safety, regulatory oversight, and corruption in housing projects.

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