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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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Winter Blackouts Deepen Crisis in Southern Ukraine

 

Rescuers work at the site of apartment buildings hit by a Russian air strike, amid Russia's attack on Ukraine, in Sloviansk, Ukraine December 3, 2025. 


Russian overnight strikes have left tens of thousands of households in southern Ukraine without electricity and heating, intensifying the humanitarian crisis as winter sets in.

The Situation

  • Targeted regions: The frontline city of Kherson and Ukraine’s largest seaport, Odesa, were hit by drone and missile attacks.
  • Impact: Ukrainian energy company DTEK reported that 51,800 households in Odesa lost power after an energy facility was struck. In Kherson, operations at a heat and power plant were disrupted, cutting heating supplies to thousands.
  • Timing: The attacks occurred on the night of December 4, 2025, part of a broader escalation against Ukraine’s energy infrastructure.

Broader Context

  • Russia has intensified strikes on Ukraine’s utilities sector as temperatures drop, aiming to plunge cities into darkness and cold.
  • Energy experts warn that repeated attacks on power plants and grids could lead to long-term blackouts and heating shortages across the country.
  • Ukrainian authorities are working to restore services, but damage to critical infrastructure makes repairs slow and difficult.

Humanitarian Impact

  • Families in Kherson and Odesa are now facing freezing conditions without heat or electricity, raising concerns about health risks, especially for the elderly and children.
  • Local officials have urged residents to conserve resources and prepare for rolling outages as repair crews struggle to keep pace with the destruction.

Conclusion

The strikes highlight Russia’s ongoing strategy of targeting civilian infrastructure to weaken Ukraine’s resilience. As winter advances, the battle for energy security has become as critical as the fighting on the frontlines.

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