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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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Senate Republicans Advance Trump's Tax Cut Agenda Amidst Controversy


In a significant political move, U.S. Senate Republicans have passed a budget blueprint aimed at extending President Donald Trump's 2017 tax cuts. The measure, approved after an intense late-night session, allows Republicans to bypass the Senate's filibuster and proceed with tax, border security, and military priorities without Democratic support.

The blueprint proposes making the 2017 tax cuts permanent, which reduced the corporate tax rate from 35% to 21%. However, the individual tax cuts, set to expire this year, are also included in the plan. Critics argue that the measure could add $5.7 trillion to the federal debt over the next decade, though Republicans estimate the cost at $1.5 trillion.

Democrats have voiced strong opposition, warning that the plan could jeopardize Medicaid and other essential programs. Senate Democratic Leader Chuck Schumer criticized the move as favoring the wealthy at the expense of middle-class Americans.

The measure now heads to the Republican-led House of Representatives for further debate. Its passage marks a pivotal step in advancing Trump's economic agenda, though it faces significant scrutiny and potential hurdles in the coming weeks.

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