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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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Trump Pushes UN Resolution for Gaza Peace and Security Force

Displaced Palestinians sit next to their destroyed homes in Khan Younis camp in the southern Gaza Strip, Palestine, Nov. 5, 2025.

President Donald Trump’s administration has presented a draft resolution to the United Nations Security Council seeking endorsement of his 20-point Gaza peace plan. The proposal calls for the creation of a transitional governance body and the deployment of an International Stabilization Force (ISF) to oversee security and reconstruction in the enclave.

The plan outlines a two-year mandate for the ISF, which would be empowered to maintain order and support rebuilding efforts. While U.S. troops would not be deployed directly in Gaza, the initiative envisions a multinational force drawn from regional and international partners, including Egypt, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates.

Trump’s framework aims to end years of conflict between Israel and Hamas by combining security guarantees with reconstruction programs. It also proposes the establishment of a “Board of Peace” to coordinate governance and humanitarian aid. Supporters argue the plan could provide a pathway to long-term stability, while critics remain cautious about its feasibility.

No date has yet been set for a Security Council vote, but Washington’s push reflects its determination to secure international legitimacy for Trump’s Gaza initiative. If approved, the resolution would mark a significant step toward reshaping governance and security in Gaza, potentially laying the groundwork for a new phase in Middle East diplomacy.


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