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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 and Starmer Confront Gaza Crisis, Accelerate Russia Tariff Talks at Turnberry Summit

 

US President Donald Trump & British Prime Minister Keir Starmer

At a high-stakes meeting held at Trump Turnberry in Scotland, U.S. President Donald Trump and British Prime Minister Keir Starmer tackled two pressing global issues: the humanitarian catastrophe in Gaza and trade tensions with Russia.

Trump, visibly moved by recent images of malnourished children in Gaza, announced the U.S. would establish open-access “food centers” in the region. “That’s real starvation stuff,” he said, breaking from Israeli Prime Minister Benjamin Netanyahu’s assertion that there is no famine in Gaza. Trump emphasized that Israel “has a lot of responsibility” and urged Netanyahu to “make sure they get the food”.

Starmer echoed the urgency, calling the situation “a desperate catastrophe” and stating that the British public is “revolted” by the suffering. He pressed Trump to take a more active role in facilitating aid and pushing for a ceasefire.

In a notable shift, Trump also announced plans to shorten the previously declared 50-day deadline for Russia to engage in peace talks over Ukraine. He hinted at a more aggressive timeline, saying, “We’re going to reduce that number,” signaling increased pressure on Russian President Vladimir Putin.

The Turnberry summit also touched on trade, with both leaders reaffirming a joint framework to ease tariffs on key goods. Trump’s recalibrated stance on Gaza and his willingness to expedite diplomatic efforts with Russia mark a significant pivot in his foreign policy approach.


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