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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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Supreme Court Clears Path for Trump’s Third-Country Deportation Policy

In a significant legal development, the U.S. Supreme Court has lifted a lower court’s restrictions on the Trump administration’s ability to deport migrants to third countries—nations other than their country of origin. The unsigned emergency order, issued on June 23, allows the administration to resume these deportations while legal challenges continue to unfold.

The decision reverses a ruling by U.S. District Judge Brian Murphy, who had mandated that migrants be given a “meaningful opportunity” to contest deportation if they feared torture or persecution in the destination country. The Trump administration had argued that this requirement was obstructing efforts to remove individuals—many of whom had been convicted of serious crimes—especially when their home countries refused to accept them.

The Supreme Court’s conservative majority did not provide a rationale for the decision, a common practice in emergency rulings. However, the court’s three liberal justices issued a scathing dissent. Justice Sonia Sotomayor criticized the move as a “gross abuse” of judicial discretion, warning that it could expose thousands to the risk of torture or death.

The case now returns to the lower courts, where broader questions about the legality and constitutionality of third-country deportations remain unresolved.

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