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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...
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Defiant Pride: Mass Protest in Budapest Challenges Government Crackdown

In a powerful display of resistance, tens of thousands of people marched through Budapest on Saturday, transforming a banned LGBTQ+ Pride rally into a sweeping protest against Hungary’s nationalist government. The demonstration, which drew participants from over 30 countries and included 70 members of the European Parliament, was sparked by a controversial law passed in March that allows authorities to ban Pride events under the guise of “child protection”.

Despite the official prohibition, marchers flooded the streets waving rainbow flags and holding signs that read “None of us are free until everyone is free.” Budapest Mayor Gergely Karácsony attempted to circumvent the ban by organizing the event as a municipal gathering, but police still declared it illegal.

Prime Minister Viktor Orbán’s administration has faced mounting criticism for its decade-long rollback of LGBTQ+ rights and broader democratic freedoms. The protest also drew support from more than 30 embassies and European Commission President Ursula von der Leyen, who urged Hungarian authorities to respect the right to peaceful assembly.

While small groups of far-right counter-protesters appeared, police successfully diverted the march to avoid clashes. Organizers and civil society groups framed the event as a last stand for civil liberties ahead of next year’s national election, where Orbán faces a strong opposition challenge.

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