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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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Kremlin Holds Back as US-Ukraine Peace Talks Progress

 

The Kremlin announced it will refrain from commenting until it sees how ongoing talks between the United States and Ukraine on a potential peace plan develop. The statement comes after Washington and Kyiv revealed they had drafted a “refined peace framework” following discussions in Geneva, aimed at addressing concerns over an earlier 28-point proposal that many of Ukraine’s allies criticized as overly favorable to Moscow.

Kremlin spokesman Dmitry Peskov emphasized that Russia has not received any official information about the outcome of the Geneva talks, noting that Moscow is closely monitoring media reports but will wait for concrete details before responding. Russian President Vladimir Putin previously suggested that U.S. proposals could form the basis of a resolution, but warned that if Kyiv rejected them, Russian forces would push further.

The U.S.-Ukraine talks mark a significant moment in the search for an end to Europe’s deadliest conflict since World War II. While both sides hailed progress, European allies remain cautious, stressing that major issues still need to be resolved. Ukraine has insisted that certain demands—such as recognition of occupied territories and restrictions on its defense capabilities—are non-negotiable.

For now, Moscow’s stance signals a wait-and-see approach, leaving the future of the peace framework uncertain. The coming days will reveal whether the refined plan can bridge the deep divides between Kyiv, Washington, and Moscow, or whether the war will continue to escalate.

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