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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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U.S. Blocks Russia’s Bid for Seat on UN Aviation Council Amid Safety Concerns

                                            US Transportation Secretary Sean Duffy

The United States has firmly opposed Russia’s attempt to secure a seat on the governing council of the United Nations’ International Civil Aviation Organization (ICAO). U.S. Transportation Secretary Sean Duffy criticized Moscow’s record, accusing Russia of undermining global aviation safety through actions such as GPS spoofing and even the downing of aircraft.

Speaking during the ICAO gathering in Montreal, Duffy argued that allowing Russia onto the 36-member council would jeopardize international airspace security. “They are the most aggressive abuser and violator of international agreements and international norms,” he said, stressing that Russia’s behavior makes the skies “more dangerous, not more safe.”

Russia, meanwhile, has been lobbying aviation leaders to ease sanctions that restrict access to spare parts and overflight rights. However, the U.S. and its allies remain resolute in blocking Moscow’s bid, citing ongoing violations of international aviation standards.


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