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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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Intense Clashes in Gaza as Israeli Forces Target North and South

 

In a recent escalation of violence, Israeli forces have launched strikes across Gaza, with residents reporting fierce fighting in Rafah, a city in the southern part of the Palestinian enclave. The Tel Al-Sultan neighborhood in western Rafah has become a battleground, where tanks are attempting to advance north amid heavy clashes. The armed wings of Hamas and the Islamic Jihad have responded by attacking Israeli forces with anti-tank rockets and mortar bombs.

Since early May, the focus of ground fighting has been on Rafah, where approximately half of Gaza’s 2.3 million people sought shelter after fleeing other areas. However, most have had to flee again due to the ongoing conflict. Medics reported two Palestinian fatalities from an Israeli missile strike in Rafah. Meanwhile, in the northern Gaza town of Beit Lahiya, an Israeli airstrike destroyed a house, resulting in the deaths of four Palestinians and injuries to several others.

The situation remains dire, with international mediation efforts failing to yield a ceasefire agreement. While Hamas insists on an end to the war and full Israeli withdrawal from Gaza, Israel is only willing to accept temporary pauses in fighting until Hamas is eradicated. Amidst the conflict, Palestinians in northern Gaza face severe food shortages and soaring prices, with thousands of children suffering from malnutrition.

As the violence continues, civilians bear the brunt of the devastating impact, and hopes for a peaceful resolution remain elusive.


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