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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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Cyclone Triggers Deadly Floods in Indonesia, Death Toll Rises to 303

People walk down the embankment of a river to take a boat ride across, after a bridge nearby collapsed during a flood in Bireun, Aceh province, Indonesia on November 29, 2025.

Indonesia is reeling from one of its deadliest natural disasters in recent years as the death toll from catastrophic floods and landslides has climbed to 303, according to the country’s disaster management agency. The devastation was triggered by a powerful tropical cyclone that battered several provinces, unleashing torrential rains and widespread destruction.

Entire communities have been submerged, with homes, roads, and bridges swept away. Rescue teams are working tirelessly to reach survivors, though many areas remain cut off due to damaged infrastructure. Thousands have been displaced, taking shelter in temporary camps as authorities race to provide food, clean water, and medical aid.

Officials warn that the number of casualties could rise further as search operations continue. The government has urged residents in vulnerable regions to remain vigilant, as heavy rainfall is expected to persist in the coming days.

This disaster underscores Indonesia’s vulnerability to extreme weather events, which are becoming more frequent and severe across Southeast Asia.


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