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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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Wall Street braces for inflation data amid Fed uncertainty

Wall Street is set to open lower on Monday as investors await the latest inflation data and the Federal Reserve’s next move on interest rates.

The S&P 500 futures fell 0.5% and the Dow Jones Industrial Average futures dropped 0.4% ahead of the opening bell.

The main focus this week will be the government’s consumer prices report, due on Tuesday, which will show how much inflation has eased or worsened in February. Inflation has been a major concern for the markets, as it erodes the value of future earnings and could prompt the Fed to tighten monetary policy faster than expected.

The Fed has raised interest rates 11 times since March 2022, bringing its benchmark rate to a 23-year high of about 5.4%. The central bank has said it expects to cut rates three times in 2024, but has not given any clear signal on the timing of the first cut.

Fed Chair Jerome Powell testified to Congress last week, but did not offer any new insights into the Fed’s outlook or plans. Powell said the Fed would continue to monitor the economic data and act as appropriate to support the recovery.

Investors will also pay attention to other economic indicators this week, such as the producer prices index, the retail sales report, and the consumer sentiment survey.

Meanwhile, the earnings season is winding down, with a few notable companies left to report their results. Oracle, Kohl’s, Dollar Tree, and Dollar General are among the companies scheduled to release their quarterly numbers this week.

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