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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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Moscow Declares Post-Summit Peace Momentum with Ukraine “Exhausted”

Trump and Putin met at a Cold War-era air force base in Anchorage, Alaska, on August 15 in an attempt to end the conflict.

Russia has announced that the momentum for peace talks with Ukraine, which briefly gained traction following the August summit between President Vladimir Putin and U.S. President Donald Trump in Alaska, has now dissipated.

Deputy Foreign Minister Sergei Ryabkov said the “powerful momentum” created in Anchorage has been “largely exhausted,” blaming European nations for undermining potential agreements. He argued that Western support for Kyiv has effectively derailed any progress toward a settlement.

The summit, held at a Cold War-era air base in Anchorage, was initially seen as a rare opportunity to ease the deadliest conflict in Europe since World War II. Trump had expressed hope that direct talks could pave the way for compromise, though no concrete agreements were reached.

Ryabkov also warned Washington against supplying Ukraine with Tomahawk missiles, calling such a move a “qualitative change” in the conflict. Trump, for his part, has said he would seek clarity on Ukraine’s intentions before approving any transfer of the weapons, citing concerns about escalation.

Meanwhile, Ukrainian President Volodymyr Zelensky continues to press for stronger Western backing, accusing Moscow of using covert tactics to destabilize Europe while intensifying its military campaign.

The Kremlin’s remarks underscore the fragile state of diplomacy, with hopes for a negotiated peace now appearing more distant than ever.


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