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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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G20 Nations Unite in Johannesburg as US Stays Away


World leaders gathered in Johannesburg for the first-ever G20 summit hosted in Africa, where they adopted a joint declaration despite a boycott by the United States. The move broke with tradition, as declarations are usually finalized at the end of such meetings. Instead, South African President Cyril Ramaphosa announced that consensus had been reached at the very start of the summit, calling it a victory for multilateral cooperation and a milestone for Africa’s role in global diplomacy.

The declaration, drafted without U.S. input, reportedly addressed pressing global challenges such as climate change and economic inequality, issues that South Africa emphasized as central to poorer nations. Ramaphosa’s spokesperson stressed that the text “cannot be renegotiated,” highlighting months of preparation and intense final negotiations leading up to the summit.

The boycott was ordered by President Donald Trump, who accused South Africa’s government of discrimination against white citizens—a claim widely criticized as baseless. Washington officials condemned the declaration as “shameful,” particularly objecting to language on climate commitments, which the U.S. has consistently resisted in international forums.

Despite U.S. opposition, the remaining G20 members stood united. Leaders described the unanimous adoption as a demonstration of resilience and solidarity, underscoring the importance of collective action in addressing global crises. For South Africa, hosting the summit and securing consensus marked a symbolic achievement: positioning Africa at the center of international decision-making and amplifying the voices of developing nations.



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