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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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Partisan Divide Deepens as U.S. Shutdown Deadline Approaches

A view of the U.S Capitol dome in Washington one day ahead of a Sept. 30 deadline to fund the government and avoid a shutdown.

With just hours left before government funding expires, Republicans and Democrats remain locked in a bitter standoff that threatens to trigger a partial U.S. government shutdown.

At the heart of the impasse are competing priorities: Democrats are demanding the extension of health care subsidies and the reversal of recent Medicaid cuts, while Republicans are pushing for a short-term funding bill that maintains current spending levels without additional provisions.

President Donald Trump met with congressional leaders from both parties at the White House on Monday, but the talks ended with little sign of compromise. Senate Democratic Leader Chuck Schumer described “very large differences” between the two sides, while Republican leaders accused Democrats of holding government funding “hostage” over health care demands.

If no agreement is reached by midnight Tuesday, federal agencies will begin shutting down, nonessential employees will be furloughed, and key economic data releases—including the September jobs report—will be delayed. The looming shutdown would mark yet another chapter in a long history of partisan brinkmanship, with both sides bracing for public backlash.


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