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BoC Decision Day: What a Hold at 2.25% Means for Your Mortgage

  Published September 2, 2026 Tomorrow's date has been sitting at the bottom of every Canadian Money Brief for weeks, and it's finally here. The Bank of Canada announces its overnight rate decision on Wednesday, September 2 at 9:45 a.m. ET, with Governor Tiff Macklem holding a press conference at 10:30. Every economist polled by Reuters — all 35 of them — expects the same outcome: a hold at 2.25%, the eighth straight meeting without a move. That's the headline. The more useful question for your wallet is what a "boring" hold actually does — and doesn't do — to your mortgage, and why two of the Big Six banks think the boring streak is about to end. Why a hold is the almost-certain call The Bank has a genuinely awkward setup heading into this meeting. On one side, the economy just posted its best quarter in years: GDP grew at a 3.3% annualized pace in the second quarter, well ahead of the Bank's own 2.5% forecast, and July's jobs report added a blowout ...
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Ontario to Implement 25% Energy Surcharge on U.S. Amid Trade Tensions


Ontario Premier Doug Ford has announced that the province will impose a 25% surcharge on electricity exports to the United States starting Monday. This move comes as a response to U.S. President Donald Trump's recent tariffs on Canadian goods, despite a 30-day pause on tariffs for certain sectors.

The surcharge will affect electricity supplied to three U.S. states—New York, Michigan, and Minnesota—impacting approximately 1.5 million homes and businesses. Premier Ford emphasized that this decision was not taken lightly but is necessary to counteract the economic strain caused by the U.S. tariffs. He also hinted at the possibility of further measures, including restricting electricity exports entirely if the tariffs persist.

The trade dispute has escalated tensions between the two nations, with Canada also implementing retaliatory tariffs on American products. Both Ford and Prime Minister Justin Trudeau have expressed their commitment to defending Canadian interests while urging the U.S. to reconsider its stance.

The surcharge highlights the growing economic and political challenges in the cross-border relationship, as both sides navigate the complexities of trade and energy policies.

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