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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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U.S. and Ukraine Finalize Critical Minerals Agreement Amid Ongoing Conflict

 

In a significant development, the United States and Ukraine have reached an agreement on the terms of a critical minerals deal. This agreement comes amid ongoing efforts to end the conflict between Ukraine and Russia. The deal is expected to see the U.S. jointly develop Ukraine's mineral wealth, with revenues going to a newly-created fund that would be "joint for Ukraine and America".

The agreement follows a series of intense negotiations between Ukrainian President Volodymyr Zelenskyy and U.S. President Donald Trump. The deal aims to compensate for the billions of dollars worth of wartime aid that Ukraine received under former President Joe Biden. Ukrainian officials hope that this agreement will improve ties with the Trump administration and lay the groundwork for a long-term U.S. security commitment.

President Zelenskyy is expected to travel to Washington, D.C., later this week to sign the agreement with President Trump. The deal is seen as a crucial step towards reaching a ceasefire with Russia and ensuring a stable and prosperous future for Ukraine.

The critical minerals deal is central to Kyiv's push to win support from the U.S. as President Trump seeks to rapidly end the war with Russia. The agreement includes provisions for the joint development of Ukraine's mineral resources, including oil and gas, after the U.S. withdrew its demand for a $500 billion share in potential revenue from resource exploitation.

This landmark agreement marks a significant milestone in the ongoing efforts to bring peace and stability to the region while fostering economic cooperation between the U.S. and Ukraine.



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