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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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Drone Strikes Hit Russian Gas Plant as Trump Revives Land-for-Peace Proposal

President Donald Trump, left, greets Ukraine's President Volodymyr Zelenskyy at the White House, Friday, Oct. 17, 2025, in Washington. 

Ukrainian drones struck a major gas processing facility in Russia’s Orenburg region over the weekend, igniting a fire and forcing the suspension of gas intake from Kazakhstan, according to Russian and Kazakh authorities. The plant, operated by state-owned energy giant Gazprom, is one of the world’s largest of its kind, handling gas condensate from Kazakhstan’s Karachaganak field alongside local Russian production.

Regional officials confirmed that part of the facility was damaged, though the full extent of the disruption remains unclear. The attack is part of a broader Ukrainian strategy to target Russian energy infrastructure, aiming to weaken Moscow’s war financing and disrupt fuel supplies.

Meanwhile, U.S. President Donald Trump reiterated his view that Ukraine may need to cede territory in exchange for peace with Russia. Speaking after recent meetings with Ukrainian President Volodymyr Zelensky, Trump suggested that Kyiv might have to consider “trading land for peace,” a position he has floated before and one that has drawn sharp criticism from Ukrainian officials.

The dual developments highlight the intensifying military and political pressures surrounding the war: Ukraine escalating long-range strikes deep into Russian territory, and Washington’s leadership signaling controversial diplomatic pathways to end the conflict.


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