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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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Bolsonaro Arrested in Brasília Before Supporters’ Vigil

 

A supporter of Brazil's former President Jair Bolsonaro holds a Brazilian flag, outside the Brazilian Federal Police Regional Headquarters, where Bolsonaro was taken after being placed in police custody as a preventative measure.


Former Brazilian president Jair Bolsonaro was taken into federal police custody on Saturday, just days before he was set to begin serving a 27-year prison sentence for plotting a coup attempt following his 2022 election defeat. The arrest occurred in Brasília, where supporters had planned a vigil outside his residence.

Bolsonaro had been under house arrest since August, confined to his home while appealing a Supreme Court conviction. Justice Alexandre de Moraes, who oversees the case, ordered the detention citing concerns that a gathering of supporters could obstruct police monitoring. Authorities also noted evidence of tampering with Bolsonaro’s electronic ankle bracelet, raising suspicions of a possible escape attempt.

The former president’s lawyer, Celso Vilardi, confirmed the detention but did not provide further details. Federal police reported that Bolsonaro underwent intake examinations after being transferred to their headquarters. The arrest marks the end of months of house arrest and intensifies political tensions in Brazil, where Bolsonaro’s supporters continue to call for amnesty for those convicted in connection with the January 8, 2023 riots.

Bolsonaro, who governed Brazil from 2019 to 2022, was convicted earlier this year of attempting to overturn the election results to block Luiz Inácio Lula da Silva from taking office. His sentence of 27 years reflects the severity of the charges, including plotting to remain in power through undemocratic means.

The detention has sparked a storm on social media and mobilized rallies among his loyal base. Meanwhile, Brazil’s judiciary insists the arrest was necessary to prevent flight risk and ensure compliance with court rulings.


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