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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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Kyiv Mourns as Russian Strikes Kill 28, Including Three Children

 

Rescuers carry the body of a person found under debris of an apartment building which was hit a day before, by a Russian missile strike, amid Russia's attack on Ukraine, in Kyiv,


Tragedy in Ukraine's Capital

A devastating Russian drone and missile assault on Kyiv early Thursday morning has left 28 people dead, including a two-year-old child whose body was recovered from the rubble on Friday. The attack, one of the deadliest on the capital since the full-scale invasion began over three years ago, also injured more than 150 people—16 of them children.

Scale of the Attack

  • Russia launched over 300 drones and eight missiles in the early hours of Thursday.
  • The strike caused widespread destruction across Kyiv, damaging homes, schools, and medical facilities.
  • Among the victims were three children aged 2, 6, and 17, marking the highest number of child casualties in a single attack on Kyiv since the war began.

Day of Mourning

City officials declared Friday a day of mourning as rescue operations continued. Ukrainian Prime Minister Yulia Svyrydenko condemned the attack, stating, “The world possesses every instrument required to ensure Russia is brought to justice. What is lacking is not power — but will”.

International Response

U.S. President Donald Trump criticized Russia’s “disgusting” actions and warned of economic consequences if Russian President Vladimir Putin does not reach a deal by August 8.

This latest assault underscores the ongoing humanitarian crisis in Ukraine and the urgent need for global action to protect civilians and hold aggressors accountable.


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