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5 Things to Know Today: BoC Hike Bets, TSX Slide, Oil Near $100 (Oct. 23)

  Canadian Money Brief • Friday, October 23, 2026 The Bank of Canada decision is five days away, the TSX gave back most of Wednesday's gains, and oil is flirting with US$100 again. Here are the five things Canadian wallets need to know today. 1. Markets Lean Toward a Bank of Canada Hike on Oct. 28 A decision that looked like a ninth straight hold is now a genuine coin flip with a hawkish tilt. After Governor Tiff Macklem warned that there is "no resolution in sight" for the Middle East conflict, BMO and Desjardins flipped to a hike call, Scotiabank firmed up its call and Goldman Sachs joined them, all looking for a quarter-point move to 2.50%. Overnight swaps priced about an 87% chance of a hike earlier this week, though other economists still argue for a hold, pointing to September's 68,000 job losses and a 6.5% unemployment rate. What it means for you: A quarter-point hike adds roughly $21 a month in interest for every $100,000 of variable-rate borrowing (HELOCs an...
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Washington Will Feel Like 107°F as Heat Grips US: Weather Watch

 

The relentless heatwave continues to affect large portions of the US, with cities and towns across the East Coast, Midwest, and lower Mississippi River valley experiencing sweltering temperatures. 

Washington, D.C., is forecasted to reach 100°F (37.8°C) on Monday, but the heat index—factoring in humidity—will make it feel closer to 107°F. Similarly, Philadelphia will hit 97°F on Monday and 100°F on Tuesday, with humidity intensifying the heat. Central Park in New York City is expected to reach 95°F, feeling like 99°F due to humidity. Chicago will also be hot, with temperatures rising to 93°F but feeling like 102°F.

In addition to discomfort, this extreme heat can impact transportation, cause airline delays, and increase energy consumption. Across the US, 25 weather stations have the chance to break records, including Ronald Reagan Washington National Airport in Virginia. Meanwhile, the West faces the risk of dry lightning, which could escalate wildfire danger in Northern California, southern Oregon, Nevada, Idaho, Wyoming, and Utah.

Stay hydrated and take precautions during this scorching weather!


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