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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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Shadows Over the Negotiating Table

            Some windows glow in a residential building left without heating and facing long power cuts in Kyiv.

Russian airstrikes struck multiple Ukrainian cities just as peace talks—brokered by the United States—opened in Abu Dhabi. The overnight assault targeted energy facilities in Kyiv, Kharkiv, and several regional centers, leaving large areas without power during freezing winter conditions. Ukrainian officials denounced the timing, arguing that the strikes were intended to weaken morale and undermine diplomatic momentum.

Despite the escalation, delegations from Ukraine, Russia, and the U.S. continued discussions focused on territorial disputes and security guarantees. Early indications suggested little movement from either side: Ukraine reiterated that it would not concede territory, while Russia maintained that territorial concessions remain central to any settlement.

The contrast between the violence on the ground and the diplomatic efforts abroad underscored the fragile nature of the negotiations. As talks resumed, the humanitarian impact of the strikes loomed large, raising questions about whether meaningful progress is possible while the conflict continues to intensify.


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