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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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Trump Reaffirms 25% Tariffs, Initiates Comprehensive Trade Policy Review

 

In a bold move, President Donald Trump has reiterated his commitment to imposing a 25% tariff on imports from Canada and Mexico, citing concerns over drug trafficking and border security. This announcement comes as part of a broader executive order aimed at reviewing and potentially overhauling U.S. trade policies.

The executive order, signed on Monday, directs federal agencies to assess the impact of current trade agreements on American workers and agricultural producers. It also calls for public consultations in preparation for the scheduled 2026 review of the Canada-United States-Mexico Agreement (CUSMA). The order sets an April 1 deadline for these assessments and other trade policy reviews.

Trump's renewed focus on tariffs and trade policy has sparked a range of reactions. While some experts argue that these measures could protect American jobs and industries, others warn of potential negative impacts on consumer prices and international relations. The Canadian government has already expressed its concerns, emphasizing that such tariffs could harm both economies.

As the April 1 deadline approaches, the U.S. trade representative will be tasked with making recommendations regarding the country's participation in CUSMA and addressing any identified trade imbalances. This comprehensive review marks a significant step in Trump's "America First" trade strategy, which aims to prioritize national security and economic interests.



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