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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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Parliament's Last-Minute Decision on $21B Spending Bill


                                                                        

 In a dramatic turn of events, Members of Parliament are gearing up for an eleventh-hour vote on a $21.6 billion spending bill. The vote, which is set to take place late tonight, comes just hours before the crucial deadline of December 10th.

The bill, proposed by the Liberals, seeks to allocate funds for various programs, including the First Nations child and family services program and compensation for Quebec's services for asylum seekers. However, the path to this vote has been anything but smooth. Parliament has been in a deadlock for months as Conservatives have been pressing the Liberals to release documents related to alleged misspending on a green-tech fund.

In a surprising move last week, Speaker Greg Fergus ruled to pause the ongoing privilege debate, allowing the spending bill vote to proceed. This decision underscores the urgency and importance of the bill, which includes $561 million for the Department of National Defence's Canadian multi-mission aircraft project.

Government House leader Karina Gould expressed cautious optimism, stating, "I'm looking forward to having the vote. There's a lot of really good things in there for Canadians, and it's important we get this done."

The outcome of this vote will have significant implications for various government programs and services, making it a pivotal moment for Canadian politics.



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