Skip to main content

Featured

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...

article

Ottawa and Ontario Streamline Rules for Ring of Fire Projects


                                             

Ottawa and Queen’s Park are set to sign a landmark agreement aimed at cutting red tape for major infrastructure and resource developments, including the long-delayed road to Ontario’s mineral-rich Ring of Fire region.

The deal, expected to be finalized on Thursday, introduces a “One Project, One Review, One Decision” framework. This approach will eliminate duplicative federal and provincial impact assessments, ensuring that large-scale projects undergo a single streamlined review process. According to government sources, the move is designed to reduce delays and regulatory overlap that have historically slowed progress on northern development initiatives.

The Ring of Fire, located in the James Bay lowlands, is considered one of Canada’s most significant deposits of critical minerals, including nickel and chromite. These resources are vital for building electric vehicle batteries and other clean technologies. The region’s development has been stalled for years due to environmental concerns, logistical challenges, and lengthy regulatory processes.

Under the new agreement, First Nations-led assessments will continue to play a central role. Communities such as Webequie First Nation and Marten Falls First Nation are already leading reviews for proposed roads that would connect their territories to Ontario’s highway system. The streamlined process is expected to support these efforts while maintaining environmental safeguards.

Federal and provincial officials argue that the deal will help unlock economic opportunities in northern Ontario, while also advancing Canada’s clean energy and critical minerals strategy. However, critics caution that faster approvals must not come at the expense of meaningful consultation with Indigenous communities or environmental protections.

This agreement marks a significant step toward balancing economic growth with regulatory efficiency, potentially paving the way for long-awaited development in the Ring of Fire and other large-scale projects across Ontario.


Comments