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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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Wall Street Pauses Near Record Highs as Investors Await Powell’s Remarks


U.S. stock futures hovered close to record levels on Tuesday, with traders showing restraint ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell.

Dow Jones Industrial Average futures edged up about 0.2%, while contracts tied to the S&P 500 and Nasdaq 100 were little changed. The muted moves come after Wall Street notched a third straight day of record closes on Monday, fueled by optimism over artificial intelligence investments and expectations of further Fed policy easing.

Tech stocks remain in focus, with Nvidia’s $100 billion investment in OpenAI continuing to energize the sector. Meanwhile, Micron Technology is set to report earnings later today, offering fresh insight into AI-driven demand for semiconductors.

Investors are also eyeing Friday’s release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, which could shape expectations for additional rate cuts before year-end. Gold prices, reflecting those bets, climbed to fresh all-time highs.

Powell’s midday comments are expected to provide clarity on the central bank’s outlook following its first rate cut of 2025. Markets are eager for signals on whether more easing lies ahead, a key factor underpinning the recent rally.


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