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BoC Opens the Door to Rate Hikes: What It Means for Your Mortgage

  Published September 4, 2026 The Bank of Canada held its policy rate at 2.25% on September 2 — the seventh straight hold — but Governor Tiff Macklem didn't sound like a central banker done for the year. He told reporters the Bank is "prepared to raise interest rates, and if it takes more than one increase, we're prepared to do that," if inflation stays too high. That's a real shift in tone, and it lands right as a wave of Canadians hit their mortgage renewal date. Here's what changed, who's forecasting what, and what it actually means for your payment. Why the Bank Suddenly Sounds Hawkish Canada's annual inflation rate has climbed to around 3% — a full point above the Bank's 2% target — and the Bank is pointing squarely at energy prices. Oil has stayed elevated because of the Iran conflict and disruption near the Strait of Hormuz, pushing gas prices up and dragging headline CPI with it. Core inflation, which strips out food and energy, is still s...

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Your daily horoscope: February 21, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Your quest to win friends and influence people will pay dividends over the next 12 months. Your magic touch on the social circuit will make you the No. 1 choice on everyone’s guest list and opens doors that had previously been closed to you.

ARIES (March 21 - April 20):

You can, if you wish, charm the birds out of the trees today, but a more useful aim for your communication skills would be persuading employers and senior colleagues that you are worthy of a promotion. Your talents have not gone unnoticed.

TAURUS (April 21 - May 21):

If you make it your business to impress people today you can easily win friends and loved ones round to your way of thinking. This is still an excellent time to get ahead on the career front, so make sure you say and do the right things.

GEMINI (May 22 - June 21):

You are not about to change your plans just to please other people and anyone who thinks differently will be disappointed. Move quickly in the direction of your dreams and don’t worry about leaving others behind – if they cannot keep up that’s too bad.

CANCER (June 22 - July 23):

If facts and figures don’t make much sense today you must speak up about it. You must also make it your responsibility to find out why. Could it be that someone is trying to cheat you? According to the planets that is a real possibility.

LEO (July 24 - Aug. 23):

A somewhat heated difference of opinion with a friend or family member is likely to erupt over the next 24 hours but don’t go to war over it. It will do you good to air your grievances, but you must allow them to do the same.

VIRGO (Aug. 24 - Sept. 23):

You have worked extremely hard of late and deserve a little rest and recreation, but no one will give it to you so you must take it yourself. All work and no play is never a good idea, so balance things out and permit yourself to have some fun.

LIBRA (Sept. 24 - Oct. 23):

The right opportunities have arrived at just the right time in recent weeks but the cosmic picture is starting to change and you will have to work harder now to stay at the same level of success. But that’s okay – for you hard work is a breeze.

SCORPIO (Oct. 24 - Nov. 22):

By all means speak your mind today but don’t forget that the words you use may come back at you in the near future. Try not to be quite so outrageous in your comments – you don’t have to go to extremes to make your point.

SAGITTARIUS (Nov. 23 - Dec. 21):

You always prefer to tell the truth, no matter how painful it might be, but today you would be wise to keep what you know to yourself, especially if there is money involved. When a loved one asks for your opinion, what they really want is reassurance.

CAPRICORN (Dec. 22 - Jan. 20):

If you change something for the sake of it over the next 24 hours you will have to change it back again a week or so from now, so think before you act and act only if you absolutely have to. Don’t let impatience be your undoing.

AQUARIUS (Jan. 21 - Feb. 19):

You may not care what other people think about you but if you are not on your best behavior today you could fall foul of someone who is eager to take you down a peg or two. Why give them the opportunity to make you look bad?

PISCES (Feb. 20 - Mar. 20):

Now the sun is moving through your sign your confidence will return and it won’t be long before you are on the fast track to success. Major changes are in the air, the kind of changes that will transform your existence in numerous meaningful ways.

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