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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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Miami Talks Between Trump Envoys and Russian Ally Raise Alarm Over Ukraine Peace Plan

Head of the Russian Direct Investment Fund and Russian special presidential envoy for economic cooperation with foreign countries, Kirill Dmitriev, talks to US President Donald Trump's special envoy Steve Witkoff.

A recent meeting in Miami between Trump administration envoys and Russian official Kirill Dmitriev has sparked widespread concern in Washington and beyond. Dmitriev, head of Russia’s sovereign wealth fund and a close ally of President Vladimir Putin, is currently under U.S. sanctions. Despite this, he was granted a special waiver to attend talks with Trump’s envoy Steve Witkoff and Jared Kushner, the president’s son-in-law.

The discussions reportedly centered on drafting a 28-point peace proposal aimed at ending the war in Ukraine. The plan is said to cover themes such as security guarantees, European stability, and the future of U.S. relations with both Kyiv and Moscow. However, details remain unclear, particularly regarding contentious issues like territorial control in eastern Ukraine.

U.S. lawmakers have voiced alarm over the meeting, questioning both the legality and the implications of negotiating with a sanctioned Russian figure. Critics argue that the talks risk undermining existing U.S. policy and could embolden Moscow. Ukrainian President Volodymyr Zelensky has described the current moment as one of the most difficult in his nation’s history, while Putin has suggested the U.S. proposal could serve as a basis for settlement.

The Miami meeting underscores the high-stakes diplomacy unfolding behind closed doors, raising questions about transparency, U.S. foreign policy direction, and the potential impact on Ukraine’s sovereignty. As scrutiny intensifies, the proposal’s future remains uncertain, with both allies and adversaries watching closely.


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