5 Things to Know Today: Bank of Canada Decision Looms as Oil Surges
Wednesday, September 2, 2026 — Your quick-read wallet briefing for the day. 1. The Bank of Canada Makes Its Rate Call This Morning The Bank of Canada announces its sixth rate decision of the year at 9:45am ET today, followed by a press conference with Governor Tiff Macklem at 10:30am ET. Every one of the 35 economists in a recent Reuters poll expects a hold at 2.25%, and bond markets are pricing only a 3% probability of a hike. It would be the Bank's eighth straight hold, even after July's inflation reading came in hot at 3.0% year-over-year, as the Bank weighs tariff uncertainty and Iran-driven energy costs against a surprisingly strong Q2 GDP print of 3.3%. What it means for you: A hold keeps prime rate at 4.45% and variable mortgage payments unchanged. If you're up for renewal soon, don't expect relief from Ottawa today — any rate movement this year is looking more likely to be a hike than a cut, according to two of the Big Six banks. 2. Oil Surges Near $95 on Fre...
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