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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: March 7, 2025

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Do you follow a path that has been used by many people before you or do you let the adventurous side of your nature come to the fore and blaze your own trail? Make it the latter. There is no better time than now to be a pioneer.

ARIES (March 21 - April 20):

If you deny yourself something today you will only want more of it tomorrow, so you might as well enjoy it without feeling guilty. Venus in your sign means you have a taste for the good things in life – and there is nothing wrong with that.

TAURUS (April 21 - May 21):

If something goes wrong in your neighbourhood today you probably won’t pay much attention as it doesn’t affect you directly. That could be a mistake though as errors in one place have a tendency to ripple out in all directions. Watch your step.

GEMINI (May 22 - June 21):

Chores you would prefer to avoid will take up a large slice of your time and energy today but there is no getting away from them, so make the best of the situation and show whoever may be watching that you are always the complete professional.

CANCER (June 22 - July 23):

The more you try to convince others that your point of view is the right point of view the less inclined they will be to believe you. Do what you feel comfortable with today and let friends and loved ones follow their own philosophy of life.

LEO (July 24 - Aug. 23):

The sun in the wealth area of your chart, alongside Saturn and Neptune, means that a more imaginative approach to making money could pay off in a very big way. Don’t limit yourself to how things were done in the past – invent new ways of thinking.

VIRGO (Aug. 24 - Sept. 23):

Be careful what you say to other people today because if they detect even the slightest touch of negativity in your voice they will reject what it is you’re proposing. Act as if you believe in who you are and what you are doing 100 per cent.

LIBRA (Sept. 24 - Oct. 23):

The only way you are going to get past your fears is by confronting them head on. Make that your No. 1 aim today and don’t doubt for even a moment that you have what it takes to turn your life around – not that you’ll need to turn far.

SCORPIO (Oct. 24 - Nov. 22):

Do something that you enjoy today, something that not only brings a smile to your face but also to the faces of those you meet along the way. If you are having fun then friends, colleagues and even strangers will feel entitled to have fun as well.

SAGITTARIUS (Nov. 23 - Dec. 21):

The fact that you trusted someone to make a positive contribution to a joint task clearly hasn’t paid off, but there is no need to get angry about it. As is so often the case, if you want something done properly you will have to do it yourself.


CAPRICORN (Dec. 22 - Jan. 20):

There is no point making a big deal about minor setbacks. Not only is it a waste of time and energy but your limited focus means you could be missing out on something of far more importance. Learn to ignore the small bumps on life’s highway.

AQUARIUS (Jan. 21 - Feb. 19):

If you want to get out and about and enjoy yourself today then by all means do so, but keep your spending in check. You may not be the sort to let money run your life but it could ruin it if you flash the cash excessively.

PISCES (Feb. 20 - Mar. 20):

The benefits of a new discovery may be self-evident to you but some of your friends cannot get their heads around what it might do for them. Take time out of your busy schedule to explain why it really is the next big thing.

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