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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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Interprovincial Tensions Rise as Hodgson Meets Eby in B.C.

                                      Federal Energy Minister Tim Hodgson
 

British Columbia Premier David Eby welcomed Ontario’s Energy Minister Todd Hodgson in Vancouver this week, as the political and economic ripple effects of Alberta’s recent energy deal continue to spread across provincial borders.

The Alberta agreement, which critics say undermines regional cooperation on energy pricing and distribution, has prompted concern among other provinces about its long-term impact on national energy strategy. Hodgson’s visit to B.C. signals Ontario’s intent to strengthen ties with British Columbia and coordinate responses to Alberta’s move.

Discussions between Hodgson and Eby reportedly focused on shared priorities such as clean energy investment, interprovincial trade, and ensuring fair competition in the energy market. While no formal agreements were announced, both leaders emphasized the importance of collaboration in navigating the shifting landscape of Canada’s energy sector.

Observers note that the meeting underscores growing interprovincial tensions, with provinces increasingly seeking alliances to counterbalance Alberta’s assertive energy policies.

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