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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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UN Chief Urges Urgent Gaza Ceasefire Amid Fears of Rising Civilian Toll

 

An Israeli military convoy manoeuvres in Gaza as seen from the Israeli side of the border, Israel August 20, 2025.

United Nations Secretary‑General António Guterres has issued a stark warning over Israel’s latest military operation to seize Gaza City, calling for an immediate ceasefire to prevent what he described as inevitable “death and destruction”.

Speaking in Japan at the Tokyo International Conference on African Development, Guterres stressed that halting the offensive is vital to protect the roughly one million civilians still in Gaza’s largest urban center. He also renewed his call for the unconditional release of all hostages held by Hamas and urged Israel to reverse its decision to expand “illegal” settlement construction in the occupied West Bank — a move he said violates international law and undermines prospects for a two‑state solution.

The Israeli military push comes amid reports of widespread urban devastation in Gaza City, with UN human rights monitors warning of systematic destruction of residential areas. Humanitarian agencies have also sounded the alarm over soaring child malnutrition rates, with nearly one in three children in Gaza City now affected.

International criticism of the operation continues to mount, with concerns that further escalation will deepen the already catastrophic humanitarian crisis across the territory.

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