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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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Spain Threatens Eurovision 2026 Boycott Over Israel’s Participation

 

Spain has announced it will withdraw from the 2026 Eurovision Song Contest if Israel is allowed to compete, becoming the first of the contest’s influential “Big Five” nations to take such a stance. The decision, approved by Spanish public broadcaster RTVE’s board with a clear majority, follows similar pledges from Ireland, the Netherlands, Slovenia, and Iceland amid growing calls to exclude Israel over its ongoing military campaign in Gaza.

Spanish Culture Minister Ernest Urtasun and Prime Minister Pedro Sánchez have both publicly urged the European Broadcasting Union (EBU) to bar Israel, arguing that cultural platforms should not “normalise” the conflict. The move adds pressure ahead of the EBU’s December General Assembly, where Israel’s eligibility will be debated.

Eurovision rules prohibit political content, but tensions over Israel’s participation have sparked protests, boos during performances, and boycotts in recent years. Unless the EBU changes course, Spain is prepared to sit out the 2026 contest in Vienna — a significant statement from a country that has competed every year since its debut in 1961.


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