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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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At least 30 Palestinians were killed in a wave of Israeli airstrikes across the Gaza Strip, according to local hospitals, marking one of the deadliest escalations since the ceasefire took effect. The strikes hit several densely populated areas, including parts of Gaza City and Khan Younis, leaving emergency crews struggling to reach survivors under the rubble.

Medical staff reported that women and children were among the dead, with dozens more injured. The sudden surge in casualties has heightened fears that the fragile ceasefire could unravel, as both sides accuse each other of violating its terms.

The latest violence comes amid ongoing humanitarian strain in Gaza, where shortages of medical supplies, fuel, and clean water continue to deepen the crisis. Residents describe a growing sense of uncertainty as they brace for the possibility of further escalation.


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