Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Belgium Secures Budget Deal Amid Nationwide Strike Plans

 

                                  All flights to and from Brussels airport this coming Wednesday have been cancelled .  


Belgium’s coalition government has reached a long-awaited budget agreement, but the country is still bracing for three days of disruptive strikes that began Monday.

Prime Minister Bart De Wever’s five-party coalition struck a deal after marathon negotiations, plugging a €9.2 billion budget gap by 2029. The agreement aims to improve Belgium’s debt position by €32 billion. The country’s deficit currently stands at 5.4% of GDP, with public debt at 104.7%.

Despite the breakthrough, unions are pressing ahead with a three-day national strike to protest austerity measures and pension reforms. The strike is unfolding in three waves:

  • Monday: Rail and public transport workers walked out, forcing cancellations of Eurostar services and reducing domestic train operations to one or two out of three.
  • Tuesday: Schools, childcare centers, and hospitals are joining the action, further disrupting daily life.
  • Wednesday: A full general strike is planned, with all sectors participating. Brussels Airport and Charleroi Airport have already announced that no flights will depart on Wednesday.

Union leaders argue that the government’s reforms unfairly burden workers, while officials insist the measures are necessary to stabilize Belgium’s finances. The strikes are expected to cause widespread travel chaos and service shutdowns, underscoring the deep divide between the government and organized labor.

The budget deal may have prevented a government collapse, but the strikes highlight the political and social challenges ahead for De Wever’s administration. As Belgium attempts to balance fiscal responsibility with public discontent, the coming days will test both the resilience of its institutions and the patience of its citizens.

Labels:

Comments

Post a Comment