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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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Rising Fears of a Wider Middle East Conflict After US–Israel Strikes on Iran

 

                    A plume of smoke rises after an explosion on February 28, 2026 in Tehran, Iran

                                                             

A wave of international concern has swept across world capitals following major coordinated US and Israeli attacks on Iran, prompting fears that the conflict could spiral into a broader regional war. European leaders convened emergency security meetings as they worked to safeguard their citizens in the Middle East and urged diplomatic intervention to prevent further escalation. 

The strikes have already resulted in significant casualties. Iranian officials reported that an attack on a school in Hormozgan province killed 24 students, marking one of the first confirmed civilian death tolls in the unfolding crisis. Additional reports from the region indicate that at least 51 students were killed in a separate strike on a girls’ school in Minab, underscoring the human cost of the intensifying conflict. 

Iran has responded forcefully, launching missile and drone attacks on US military facilities across several Gulf states, including Bahrain, Qatar, the UAE, Kuwait, Jordan, Iraq, and Saudi Arabia. These retaliatory strikes have heightened fears that the conflict could draw multiple nations into direct confrontation. One person was reported killed in the UAE after shrapnel from an Iranian missile struck the capital, marking the first confirmed fatality from Iran’s counteroffensive. 

As explosions continue to rock cities across the region and diplomatic tensions rise, global leaders are calling for urgent de-escalation to prevent the situation from spiraling into a full-scale regional war.

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