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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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Second Day of Tension as Welland Police Maintain Standoff

 

Members of Niagara regional police position themselves along Plymouth Road close to the location where an officer was shot in Welland, Ont., while police were responding to reports of gunfire, Friday, Dec. 19, 2025.


A police standoff in Welland, Ontario has entered its second day after a Niagara Regional Police officer was shot while responding to reports of gunfire on Friday morning. The officer, who was hit in the chest during an exchange of gunfire, was treated in hospital and later released with minor injuries.

The suspect remains barricaded inside a residence near Plymouth Road and Second Street, where police negotiators continue working toward a peaceful surrender. A shelter‑in‑place advisory remains in effect for nearby residents as officers maintain a secure perimeter around the area.

The incident began when officers accompanied bylaw staff to a property reportedly involved in a fencing dispute. Gunfire broke out shortly after their arrival, prompting precautionary lockdowns at nearby schools and the local hospital.

Police say no additional injuries have been reported, and their priority remains resolving the situation safely as negotiations continue.


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