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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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Dollar Slumps as Trump Escalates Trade Tensions with China

The U.S. dollar fell sharply on Friday after President Donald Trump threatened to impose a massive increase in tariffs on Chinese imports, reigniting fears of a renewed trade war between the world’s two largest economies.

Trump’s comments came just a day after Beijing expanded export controls on rare earth minerals, a move that Washington views as a strategic challenge to global supply chains. In a post on his social media platform, Trump also suggested he may cancel a planned meeting with Chinese President Xi Jinping, further rattling markets.

The dollar index dropped 0.4% to 98.99, while the euro and yen strengthened against the greenback. Commodity-linked currencies, including the Australian dollar, also weakened amid concerns over slowing global trade.

Market analysts warned that the escalation could weigh heavily on U.S. growth prospects. “Ultimately, it does create a lot of negativity for the U.S. economy,” said Juan Perez, director of trading at Monex USA.

Global equities also tumbled, with major indexes in North America, Europe, and Asia closing lower as investors braced for heightened geopolitical and economic uncertainty.


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