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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’s Remarks on Somalis Spark Outrage

U.S. President Donald Trump says he doesn't want Somalis in the U.S., urges them to go back to their homeland and fix it.                                        

During a recent Cabinet meeting, President Donald Trump reportedly stated that he does not want Somalis in the United States. The comment has drawn sharp criticism from civil rights groups, immigrant advocates, and members of the Somali-American community, who argue that such rhetoric fuels xenophobia and undermines the nation’s values of inclusivity.

Somalis in the U.S. have long contributed to the country’s cultural and economic fabric, particularly in states like Minnesota, where Somali-American communities are thriving. Advocacy organizations emphasized that targeting a specific nationality or ethnic group is discriminatory and risks deepening divisions.

Political analysts note that Trump’s remarks may further polarize debates around immigration policy, which has been a central issue throughout his presidency. Calls for accountability and respect for immigrant communities are growing louder as critics demand that the administration clarify its stance and reaffirm the nation’s commitment to diversity.


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