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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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Ontario Faces Major Winter Storm: Heavy Snow and Fierce Winds Set to Disrupt Travel

 

A person crosses the street in a spring snow storm in downtown Toronto, on Wednesday, April 2, 2025.

Ontario is bracing for a powerful winter storm this week, with heavy snowfall and strong winds expected to disrupt travel and daily routines across multiple regions.

Winter Storm Targets Ontario

  • Northern and central Ontario could see snowfall totals reaching 30 to 60 cm, with snowfall rates up to 4 cm per hour, creating near-zero visibility and dangerous driving conditions.
  • Southern Ontario snowbelt regions near Lake Huron and Georgian Bay may experience 20–40+ cm of snow from multi-day squalls, combined with gusty winds up to 60 km/h.
  • The Greater Toronto Area (GTA) is forecast to avoid major accumulations, but winds reaching 90 km/h could still cause blowing snow and reduced visibility.

What Residents Should Expect

  • Hazardous travel and possible road closures in northern communities.
  • Whiteout conditions and drifting snow in southern snowbelt areas.
  • Strong winds across central and southern Ontario, with potential power outages.

Officials are urging residents to prepare by stocking essentials, avoiding non-essential travel, and staying alert to weather updates as the storm intensifies.


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