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

Tanzania Appoints Loyalist as Prime Minister Amid Post-Election Turmoil

 

FILE PHOTO: Tanzania’s Minister for Finance Mwigulu Nchemba, holds up a briefcase containing the Government Budget for the 2025/2026 fiscal year in the National Assembly in Dodoma, Tanzania June 12, 2025.


Tanzania’s political landscape shifted sharply this week as President Samia Suluhu Hassan appointed former finance minister Mwigulu Nchemba as the country’s new Prime Minister, following a disputed presidential election on October 29 that has sparked deadly unrest.

Parliament confirmed Nchemba’s nomination in a near-unanimous vote, underscoring the dominance of the ruling Chama Cha Mapinduzi (CCM) party. Rights groups report that hundreds of protesters were killed in post-election clashes, while opposition figures allege the toll could exceed 1,000. The government has dismissed these figures as exaggerated and has not released an official death count.

Nchemba, a longtime ally of Hassan and a cabinet member under her predecessor John Magufuli, pledged to “work diligently” in his new role. His appointment is seen as a move to consolidate Hassan’s power after her landslide victory, which opposition parties denounced as rigged due to the exclusion of key challengers.

Despite the unrest, Tanzania’s government projects 6% economic growth in 2025, driven by major infrastructure projects in transport and power generation. However, the violence has cast a shadow over these ambitions, raising questions about stability and governance in one of East Africa’s largest economies.

The international community, including the United Nations Human Rights Office, has expressed concern over the scale of the violence and urged transparency in reporting casualties. Meanwhile, Hassan has vowed to unite the country and restore calm, though tensions remain high across major cities.


Labels:

Comments

Post a Comment