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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...
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Biden and Netanyahu Discuss Ceasefire Amid Escalating Tensions in Israel-Gaza Conflict


In a critical development, US President Joe Biden recently engaged in a phone call with Israeli Prime Minister Benjamin Netanyahu as the pressure mounts on both Israel and Hamas to find common ground and reach a ceasefire agreement. Here are the key points from their conversation:

  1. Opposition to Rafah Invasion:

    • President Biden reiterated the US’s clear position opposing Israel’s plans to invade Gaza’s southernmost city of Rafah. This stance comes despite global concern for over one million Palestinians currently sheltering in the area.
    • Thousands of homes in Rafah have already been destroyed by airstrikes, and the threat of a ground invasion looms large.

  2. Ceasefire Talks in Cairo:

    • Talks are set to commence in Cairo, Egypt on Monday to negotiate a potential ceasefire deal.
    • Hamas has confirmed its participation and will send a delegation to the negotiations.
    • An Israeli delegation is also expected to arrive in Egypt to discuss the latest proposals.

  3. Humanitarian Aid and Hostage Release:

    • President Biden emphasized the importance of sustained and enhanced delivery of humanitarian aid to Gaza.
    • The ongoing conflict has severely impacted civilians, aid workers, and hostages.
    • In a previous call, Biden had warned that future US support for Israel would depend on swift steps to protect civilians and aid workers.

  4. Qatar’s Role:

    • Qatar, a key intermediary, has urged both Israel and Hamas to show more commitment and seriousness during negotiations.
    • Qatar played a crucial role in negotiating a brief halt to the fighting in November, leading to the release of dozens of hostages.
    • However, Qatar has recently reassessed its role in the conflict.

  5. Netanyahu’s Response:

    • There has been no official comment from Prime Minister Netanyahu’s office regarding the latest call with President Biden.
    • Netanyahu has previously rejected Hamas’s terms for a ceasefire and hostage-release agreement, calling them “delusional” and complicating efforts to strike a deal.

As the situation remains tense, the international community closely watches the developments in the Israel-Gaza conflict. The hope is that diplomatic efforts will lead to a resolution that brings an end to the prolonged war and ensures the safety and well-being of civilians on both sides.

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