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Lock In or Wait? Why Two Big Banks Say Rates Are Going Up in October

  Published September 2, 2026 The Bank of Canada did exactly what all 35 economists in Reuters' latest poll expected today: it held its overnight rate at 2.25% for a sixth straight decision, keeping the prime rate at 4.45%. Bond markets had priced in barely a 3% chance of anything else. What's not settled is what happens next — and on that question, Canada's biggest banks are more split than they've been all year. Four of the Big Six expect the Bank to sit tight through the end of 2026. Two expect it to start hiking as soon as October. If you're renewing a mortgage in the next few months, that gap isn't academic — it's the difference between locking in now and gambling on a rate cycle turning against you. The Split, Bank by Bank Here's where the six largest banks stand on where the overnight rate lands by the end of 2026: Bank Year-end 2026 call Stance BMO 2.25% (hold) Hold camp CIBC 2.25% (hold) Hold camp RBC 2.25% (hold) Hold camp TD 2.25% (hold) Hold...
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Mexico Threatens Retaliation Over Proposed Tariffs, Warns of Job Losses


Mexican President Claudia Sheinbaum has issued a stern warning against the proposed 25% tariffs by U.S. President-elect Donald Trump, stating that such measures could result in the loss of 400,000 U.S. jobs and increased prices for American consumers. Sheinbaum emphasized that Mexico would respond with reciprocal tariffs if the U.S. proceeds with the plan.

During a press conference, Sheinbaum highlighted the potential impact on the automotive sector, noting that nearly 90% of pickup trucks sold in the U.S. are manufactured in Mexico. Economy Minister Marcelo Ebrard echoed these concerns, calling the proposed tariffs a "shot in the foot" that would harm both U.S. workers and companies.

The Mexican government has also expressed confidence that the U.S.-Mexico-Canada Agreement (USMCA) would protect their trade interests. Sheinbaum and Trump discussed the issue in a recent phone call, with Trump claiming that Sheinbaum agreed to address migration and drug smuggling.

The situation remains tense as both countries navigate the complexities of trade relations and the potential economic fallout of the proposed tariffs.




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