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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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Futures Slip as Wall Street Awaits Jobs Data and Defense Stocks Bounce Back

US stock futures drifted lower Thursday morning as investors positioned themselves ahead of fresh labor‑market data and monitored a sharp rebound in major defense stocks. The cautious tone follows a stretch of record‑setting gains, prompting traders to reassess risk amid shifting expectations for Federal Reserve policy and rising geopolitical tensions.

Nasdaq 100 futures dipped around 0.3%, while S&P 500 futures slipped roughly 0.2%. Dow Jones Industrial Average futures fell about 0.4%, extending the previous session’s uneven trading. Investors are watching closely for weekly jobless‑claims figures and Friday’s broader employment report, both of which could influence the Fed’s next interest‑rate decision.

Defense stocks, which tumbled a day earlier after criticism from President Trump, surged in premarket trading. Trump signaled support for dramatically higher military spending—potentially reaching $1.5 trillion annually—lifting shares of major contractors such as Northrop Grumman and Lockheed Martin.

Markets are also digesting heightened geopolitical risks, including US actions involving Venezuelan oil shipments, adding another layer of uncertainty for global investors.

With equities still hovering near historic highs, Thursday’s labor data may determine whether the recent rally regains momentum or pauses for a deeper cooldown.

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