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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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A City Buried: Toronto Endures Its Snowiest Day on Record

 

Residents are being warned of dangerous travel conditions, including the possibility of near-zero visibility at times.


Toronto woke up to a historic winter wallop as an intense snowstorm dumped an astonishing 40–50+ cm across the city, marking the snowiest single day ever recorded. What began as a steady overnight snowfall quickly escalated into a full‑scale weather event that brought much of the region to a standstill.

Roads became nearly impassable by mid‑morning, with plows struggling to keep pace as snow accumulated faster than crews could clear it. Public transit faced widespread delays, and several bus routes were suspended entirely. Pearson International Airport reported dozens of cancellations as visibility dropped and runways required continuous clearing.

Despite the disruption, Torontonians showed their trademark resilience. Neighbours helped dig out buried cars, families turned the drifts into makeshift playgrounds, and social media filled with images of a city transformed into a deep‑winter landscape.

Meteorologists noted that while Toronto is no stranger to heavy snow, the sheer volume within such a short window makes this storm exceptional. As cleanup continues, officials are urging patience—and caution—while the city digs itself out from this record‑breaking winter blast.


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