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5 Things to Know Today: BoC Hike Odds, Fixed Rates, Tariff Swap, $100 Oil & Budget Countdown (Oct. 25)

  Canadian Money Brief • Sunday, October 25, 2026 A big week for your wallet starts Wednesday. Here are the five things Canadians should know before it begins. 1 The Bank of Canada decides Wednesday, and markets lean toward a hike The Bank of Canada announces its rate decision at 9:45 a.m. ET on Wednesday, Oct. 28, alongside a new Monetary Policy Report. Prediction markets price roughly a 79% chance of a quarter-point hike to 2.50%, up sharply after Governor Tiff Macklem’s hawkish comments at the IMF meetings, though analysts remain split and some expect a “hawkish hold.” The U.S. Fed also decides that day. What it means for you: Variable-rate mortgage and HELOC holders feel it first. A 0.25-point hike works out to roughly $70 more per month on a $500,000 variable mortgage (25-year amortization), and prime would move from 4.45% to 4.70%. A hold means little change until the next decision on Dec. 9. 2 Fixed mortgage rates have already moved without the Bank Fixed rates follow bond ...
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UK Authorizes Limited U.S. Use of Bases for Defensive Strikes on Iran

 

                                Starmer agrees to let US use British military bases for Iran strikes.


The UK has approved a U.S. request to use British military bases for what Prime Minister Keir Starmer describes as “specific and limited defensive” strikes against Iranian missile sites. This marks a significant shift in the UK’s position, as it had previously declined similar U.S. requests. 

Starmer emphasized that the UK will not participate in offensive operations and remains uninvolved in recent U.S.-Israeli strikes on Iran. Instead, the decision is framed around collective self‑defence and the protection of British and allied lives amid escalating regional tensions. He accused Iran of pursuing a “scorched-earth strategy” and highlighted the threat posed by missile launches and storage facilities targeted in the planned U.S. actions. 

Reports from multiple outlets note that the authorization aims to prevent further missile attacks across the region, with British personnel already stationed near potential hotspots. The move follows criticism from U.S. President Donald Trump, who expressed disappointment over the UK’s earlier hesitation but acknowledged the eventual approval for defensive use. 

The UK government has stated that a summary of its legal advice will be published, underscoring its position that the decision aligns with international law. As the situation develops, the approval signals a careful but notable deepening of UK-U.S. military cooperation during a volatile moment in Middle Eastern security dynamics.

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