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5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...

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Russia’s Overnight Strikes Cripple Ukraine’s Energy and Transport Systems

Emergency responders work at the site of a warehouse that was struckin Novi Petrivtsi, outside Kyiv.

A massive Russian drone and missile assault overnight has severely damaged Ukraine’s power infrastructure and transport networks, leaving multiple regions in crisis. According to Ukrainian officials, energy facilities in eight regions were hit, causing widespread blackouts and forcing nuclear power plants to reduce output.

The strikes also targeted railway hubs near Kyiv, particularly in the town of Fastiv, where depots and carriages were destroyed. Fires broke out at the station, disrupting suburban and freight services, and forcing rerouting of long-distance trains. Emergency crews worked through the night to contain blazes and restore essential services.

Ukraine’s Air Force reported that Russia launched 653 drones and 51 missiles, of which 585 drones and 30 missiles were intercepted. Despite these defenses, 29 locations were struck, leaving at least eight people injured. The attacks coincided with Ukraine’s Armed Forces Day, underscoring Moscow’s intent to disrupt both civilian life and symbolic national events.

The International Atomic Energy Agency (IAEA) confirmed that nuclear plants had to cut power output due to grid instability, raising concerns about energy security as winter sets in. Meanwhile, commuters in Kyiv and Chernihiv faced canceled trains, while alternative bus routes were hastily arranged to maintain mobility.

Officials condemned the strikes as part of Russia’s escalating campaign to undermine Ukraine’s logistics and energy resilience. Restoration efforts are underway, but authorities warn that repeated attacks on critical infrastructure pose long-term risks to both civilian welfare and the country’s war effort.

In summary: Russia’s latest wave of drone and missile strikes has left Ukraine grappling with blackouts, disrupted transport, and mounting humanitarian challenges.


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