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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Bank of England Holds Rates, Signals Easing Ahead Amid Job Market Strain

The Bank of England (BoE) has opted to keep its benchmark interest rate steady at 4.25%, maintaining a cautious stance as signs of a weakening labor market emerge. The decision, made by a 6-3 vote within the Monetary Policy Committee, reflects growing concern over rising unemployment and global economic uncertainty, particularly due to escalating tensions in the Middle East.

Governor Andrew Bailey emphasized that while inflation remains above the BoE’s 2% target, the central bank is closely monitoring the cooling job market and its potential to ease price pressures. “Interest rates remain on a gradual downward path,” Bailey noted, though he stressed that future moves would be data-dependent.

The BoE’s decision comes amid a backdrop of elevated energy prices and geopolitical instability, which could complicate efforts to bring inflation under control. Still, with wage growth slowing and job vacancies declining, policymakers appear increasingly open to further rate cuts—possibly as soon as August.

Investors are now pricing in at least two more quarter-point cuts by the end of 2025, signaling a shift toward a more accommodative monetary policy as the UK economy navigates uncertain terrain.


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