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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 Refers Skills Fund Audit to Police Amid Irregularities

David Piccini, Ontario Minister of Labour, Immigration, Training and Skills Development speaks as Ontario Premier Doug Ford listens during a funding announcement in Hamilton, Ont., Wednesday, Aug. 20, 2025.


The Ontario government has asked the Ontario Provincial Police (OPP) to investigate a company that received millions from the province’s Skills Development Fund after a forensic audit uncovered financial irregularities.

A routine audit in 2023 flagged concerns with the company, prompting a deeper forensic review. The audit findings have now been forwarded to police for investigation. The company at the center of the probe, Keel Digital Solutions (also known as Keel Mind), had received more than $37 million in provincial funding to develop mental health support platforms, including initiatives aimed at assisting police services.

The Skills Development Fund, overseen by Labour Minister David Piccini, is a $2.5 billion program designed to support training and workforce development projects across Ontario. However, the fund has faced growing controversy in recent weeks over transparency and accountability in how grants are awarded.

Keel Digital Solutions has defended its record, stating that no “red flags” were raised during earlier reviews. Still, the government’s decision to involve the OPP underscores the seriousness of the concerns raised by auditors.

This development adds to mounting scrutiny of the Ford government’s handling of the Skills Development Fund, with critics demanding clearer oversight of taxpayer dollars. The OPP investigation will determine whether any criminal wrongdoing occurred in the administration or use of the funds.


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