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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...
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Citibank Scales Back UAE Operations Amid Regional Security Concerns

 


Citibank has temporarily closed most of its UAE branches through March 14 as a safety precaution amid rising regional tensions, with only its Mall of the Emirates branch remaining open. The move follows widespread evacuations by international banks responding to escalating geopolitical risks. 

Citibank has announced the temporary closure of most of its branches and financial centers across the United Arab Emirates, a precautionary step taken as geopolitical tensions intensify in the region. According to the bank’s website, the closures will remain in effect through March 14, with normal operations expected to resume on March 16. The only exception is the Mall of the Emirates branch in Dubai, which will continue serving customers during this period. 

This decision comes as several global banks—including Standard Chartered and HSBC—evacuate offices and shift employees to remote work following warnings from Iran about potential threats to Gulf-based financial institutions linked to the U.S. and Israel. The heightened alert has prompted multinational firms across West Asia to reassess safety protocols and reduce on-site staffing.

Citibank’s temporary closures underscore the broader uncertainty facing the region’s financial sector as institutions navigate evolving security risks and prioritize employee safety.

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