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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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Ottawa Orders End of Door-to-Door Mail Delivery in Canada

The federal government has announced that Canada Post will phase out door-to-door mail delivery nationwide, shifting the remaining four million households still receiving it to community mailboxes.

Public Works and Procurement Minister Joël Lightbound said the move is necessary to stabilize the Crown corporation, which has been losing billions of dollars in recent years. Canada Post reported a $407 million loss in the second quarter of 2025 alone, with overall mail volumes continuing to plummet.

Currently, about 77% of Canadians already collect their mail from community or apartment mailboxes. The transition, expected to take place over the next decade, is projected to save nearly $400 million annually. Delivery standards for non-urgent mail will also be relaxed from two-to-four days to three-to-seven days, allowing more cost-efficient ground transport.

The government is also lifting a decades-old moratorium on rural post office closures, though accommodations will remain in place for Canadians with mobility issues who require home delivery.

Lightbound emphasized that the changes are essential to prevent repeated government bailouts. “Canada Post is effectively insolvent,” he said, adding that transformation is required to ensure its survival.


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