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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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Canada’s Youth Job Market Stalls as Summer Ends, Leaving Many Struggling


As the summer of 2025 winds down, young Canadians are facing one of the toughest seasonal job markets in over a decade. The national youth unemployment rate has climbed to 14.6%, the highest since 2010 outside of pandemic years. In Ontario, the figure is even more alarming at 15.8%, with returning university students seeing rates above 17%.

Experts point to a combination of factors: a slowdown in summer job postings—down 22% from last year—the lingering effects of pandemic-era disruptions, and the rapid adoption of AI and automation in entry-level roles. The influx of international students in recent years has also swelled the youth labour force, intensifying competition for limited positions.

For many, the struggle to secure work has meant shelving career-related ambitions in favour of part-time service jobs—or, in some cases, returning to school in hopes of improving future prospects. Economists warn that prolonged joblessness at the start of a career can have lasting effects on earnings, skills development, and mental health.

While analysts note that technological shifts have historically created new opportunities over time, the immediate outlook for young job seekers remains uncertain. For now, the “summer funk” shows no signs of lifting, and the chill could linger well into the fall.

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