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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: August 12, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Resist the temptation to go for short-term gains when the long-term rewards could be so much better. That applies in particular to anything of an artistic nature – create something that lasts rather than something that brings instant but temporary gratification.

ARIES (March 21 - April 20):

Your insights into what makes a friend or loved one tick will come in useful today as you should be able to predict what their next move is going to be. You will also be well placed to step in and rescue them if they get it wrong.

TAURUS (April 21 - May 21):

Do you cash in some kind of investment now or do you hang on to it a bit longer in the hope that it will appreciate in value even more? Only you can make that decision but the planets warn you may have pushed your luck far enough already.

GEMINI (May 22 - June 21):

You may not see eye-to-eye with a friend or family member over every little thing but your aims are still generally in alignment, so strive to stay on good terms. Remember, their way of doing things is as valid for them as your way is for you.

CANCER (June 22 - July 23):

It’s quite likely that you will get a bit emotional over the next few days as cosmic activity in the most sensitive area of your chart comes to a head. But that’s okay – in fact it’s good, as it helps to let off steam once in a while.

LEO (July 24 - Aug. 23):

The fact that you enjoy being the centre of attention will work in your favour today as all eyes will be on you rather than on someone you are trying to protect. Don’t do anything too outrageous though or they may see through your act.

VIRGO (Aug. 24 - Sept. 23):

Upheavals on the career front are likely today but there is no need to be alarmed. The fact that there are so many things up in their air at the moment will work in your favour as you adapt quicker than most people to new opportunities.

LIBRA (Sept. 24 - Oct. 23):

Not everyone will be happy with the events of the next few days but you will be delighted in that you have been bored with a lack of movement in recent weeks and can take advantage of the chaos and confusion to get your life moving again.

SCORPIO (Oct. 24 - Nov. 22):

If you find yourself torn between two equally attractive offers today choose the one that helps other people more than it helps you. Not only will you feel good about yourself but in the long-term the universe will reward you for your generosity of spirit.

SAGITTARIUS (Nov. 23 - Dec. 21):

Mars and Jupiter in your opposite sign will bring some serious tensions to the surface over the next few days and you can and you must deal with them so they never bother you again. Be ruthless if you have to – this is no time for sentiment.

CAPRICORN (Dec. 22 - Jan. 20):

The next few days are going to be super busy, so let loved ones know that you won’t be able to devote your full attention to them but that you will make it up to them later on. They’ll understand – they know how much your work means to you.

AQUARIUS (Jan. 21 - Feb. 19):

Cosmic activity in the most creative area of your chart urges you to get serious about a long-term project. Up until today you have been just tinkering with it but now you must knuckle down and get it finished. It’s your big chance to shine.

PISCES (Feb. 20 - Mar. 20):

Do what you can to bring a smile to the face of a loved one who is feeling a bit down in the dumps. As a Water sign you have a knack for highlighting the absurdities of life and in doing so can help people feel better about themselves.

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