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BoC Set to Hike Into a Weak Economy: What It Means for You

  Canadian Money Brief • Feature Monday, October 26, 2026 • Written ahead of the 9:45 a.m. ET decision on Wednesday, Oct. 28 The Bank of Canada is about to do something that looks backwards. Jobs are disappearing, the housing market is sluggish, and yet money markets and most economists expect the central bank to raise its key rate on Wednesday. If it happens, your budget gets squeezed from two directions at once: higher borrowing costs and a shakier job market. The short version • Expected move: +0.25 point to 2.50% on Oct. 28, up from 2.25% • Reuters poll: 56% of economists (19 of 34) call for a hike, and a majority see one more by end of March • Why now: energy-driven inflation (3.1% in September) and a bank worried it spreads • The catch: 68,300 jobs lost in September , unemployment at 6.5% Why would the bank hike when the economy is wobbling? Reuters reports the Bank of Canada is expected to raise its rate as a pre-emptive strike: the goal is to stop an oil-driven jump in p...
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Battle Against the Flames: Aftermath of the Major Wildfire Near Athens

 

In the wake of a devastating wildfire that swept through the northern fringes of Athens, Greece, authorities and firefighters are grappling with the aftermath. Here’s what we know:

  • The Blaze: The wildfire, which began on Sunday afternoon, quickly escalated due to strong winds and tinder-dry pine forests. These conditions were exacerbated by the scorching summer temperatures, making it an exceptionally dangerous fire.

  • Evacuations: Hospitals, residential suburbs, and even monasteries were evacuated as the flames advanced. A children’s hospital, a military hospital, and a children’s home were among the facilities cleared. Evacuation orders were issued for more than a dozen areas, including Marathon and several Athens suburbs.

  • Emergency Response: Over 670 firefighters, backed by specialized wildfire teams and armed forces personnel, battled the flames. More than 180 vehicles were deployed, along with 30 water-dropping planes and helicopters providing aerial support.

  • Human Impact: Two firefighters sustained minor injuries, and several civilians were treated for smoke inhalation. Police officers heroically carried elderly residents to safety, their efforts captured against a backdrop of a night sky turned red from the flames.

  • Environmental Toll: The fire ravaged pine forests that had already suffered from repeated heat waves during the summer. Greece experienced its hottest June and July ever recorded, following the warmest winter.

As the dust settles, the scars left by this wildfire serve as a stark reminder of the urgent need for climate resilience and effective disaster management. The battle against the flames continues, but the community’s resilience shines through as they come together to rebuild and protect their beloved landscape.


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