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Moderna lifts 2026 growth outlook to 15–25% after 29% Q3 jump Panama’s $8.5B Bet: The Canal That Wants to Be More Than a Canal Microsoft reportedly winds down Oracle AI-computing deal; Oracle falls 4% Up 1,500, down 1,800: Wall Street’s wildest week since the 2025 tariff crash Fox closes $22B Roku takeover months ahead of schedule Nikkei, Kospi plunge 6% as AI crash spreads to Asia Nasdaq crashes 5.5% as $2.5 trillion vanishes in AI rout Europe’s Stoxx 600 hits record as money rotates out of AI Toyota soars 16.7%, raises profit forecast 15% on hybrids, weak yen Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

Intelligence

Bank of Canada hikes to 2.5%, its first increase in three years

Canada raised rates even as it sheds jobs, betting that high energy prices are a bigger threat. It signalled more hikes are possible.

News | 29 October 2026

Bank of Canada hikes to 2.5%, its first increase in three years

Canada is hiking into a jobs slump.

The Bank of Canada lifted its benchmark by 25 bp to 2.5% on Wednesday, its first hike since July 2023.

The reason is energy. Inflation hit 3.1% in September, just above the top of the bank’s 1–3% target range.

The bank now sees 2027 inflation at 3.1%, up from the 2.0% it forecast in July. What makes the move bold is the jobs data.

Canada lost 68,000 jobs in September after losing 42,000 in August. Governor Tiff Macklem said more hikes could follow, but promised to move cautiously. The message: inflation is the bigger danger right now.