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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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Canada’s Budget Hits a High Note: Eurovision on the Horizon

JJ, representing Austria, winner of the 2025 Eurovision Song Contest, holds the trophy during the Grand Final, in Basel, Switzerland, on May 18. The federal budget teased Canada's potential participation in Eurovision, leaving fans wondering whether the country will actually enter the contest.

Canada’s 2025 federal budget contained a surprising cultural twist: a line item mentioning CBC/Radio-Canada’s exploration of joining the Eurovision Song Contest. While the budget focused heavily on economic measures, defence spending, and civil service cuts, this unexpected inclusion has sparked curiosity across the country.

The government announced a funding increase for CBC/Radio-Canada, part of which will support efforts to expand Canada’s cultural footprint internationally. Eurovision, organized by the European Broadcasting Union (EBU), is one of the world’s largest televised music competitions, drawing over 100 million viewers annually. Though traditionally limited to European nations, non-European countries like Australia have successfully joined, paving the way for Canada’s potential entry.

Prime Minister Mark Carney has reportedly taken a personal interest in the idea, seeing Eurovision as a chance to showcase Canadian talent on a global stage. Canada already has a history with the contest: Céline Dion famously won Eurovision in 1988, representing Switzerland. This precedent highlights how Canadian artists have long been intertwined with the competition, even if the country itself has never participated.

Supporters argue that Eurovision could be a powerful tool for cultural diplomacy, boosting Canada’s visibility abroad and giving Canadian musicians a new platform. Critics, however, question whether such an initiative belongs in a federal budget already facing a significant deficit.

For now, Canada’s Eurovision journey remains in the exploratory phase. Talks with the EBU are underway, but no official commitment has been made. Still, the mere mention of Eurovision in the budget has already struck a chord, blending fiscal policy with pop culture in a way few expected.


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