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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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Market Jitters Rise as Futures Slip Amid Shutdown Fears

US stock futures edged lower on Tuesday as investors braced for the growing likelihood of a government shutdown and fresh trade tensions. Futures tied to the Dow Jones Industrial Average dipped about 0.2%, while S&P 500 contracts slipped 0.2% and Nasdaq 100 futures eased 0.1%.

The pullback followed President Trump’s latest tariff announcements targeting lumber, timber, and furniture imports, adding to concerns about the global economic outlook. Markets are also on edge as lawmakers face a midnight deadline to avert the first government shutdown since 2019. Vice President JD Vance signaled pessimism after failed negotiations, saying, “I think we’re headed to a shutdown”.

A shutdown would halt key government data releases, including the closely watched September jobs report, which is central to the Federal Reserve’s policy outlook. Investors are also awaiting earnings from Nike later today, while labor market data and consumer confidence readings are expected to provide additional clues on economic momentum.

At last check, the Dow hovered near 46,296, down slightly from its prior close. The S&P 500 traded around 6,661, up modestly, while the Nasdaq showed similar caution in early moves.


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