Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Liberals Clear First Budget Confidence Hurdle in Ottawa


The minority Liberal government has successfully navigated its first major test on the 2025 federal budget, defeating a Conservative sub-amendment that sought to reject the fiscal plan. The vote, held Thursday evening in the House of Commons, ended with 198 MPs opposing the motion and 139 supporting it, ensuring the government’s survival in this initial confidence challenge.

The Conservative sub-amendment criticized the budget as failing to deliver affordability for Canadians. Had it passed, the measure could have triggered a federal election just months after the last one. However, the Liberals secured crucial backing from the NDP, Bloc Québécois, and Green Party MPs, who joined them in voting down the Conservative attempt.

Finance Minister François-Philippe Champagne and Prime Minister Mark Carney were seen applauding their caucus after the vote, signaling relief at clearing the first of three confidence hurdles tied to the budget. Interim NDP Leader Don Davies confirmed earlier in the day that his party’s seven MPs would side with the government, effectively removing suspense from the outcome.

Despite this victory, the Liberals remain under pressure. The next test comes Friday, when MPs will vote on a Bloc Québécois amendment opposing the budget. A defeat in that vote—or in the final budget vote later this month—would mean the government has lost the confidence of the House, potentially triggering another election.

The Liberals currently hold 170 of the 172 votes needed to pass the budget, bolstered by recent defections from Conservative MPs. Still, with only a slim margin separating them from defeat, the coming days will determine whether this survival marks the beginning of stability or merely a temporary reprieve.


Labels:

Comments

Post a Comment