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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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U.S. Clarifies Nuclear Testing Plans: No Explosive Detonations Ahead

 

President Donald Trump points before boarding Air Force One at Palm Beach International Airport in West Palm Beach Fla., on his way back to the White House following a weekend at his Mar-a-Lago estate.

The U.S. Department of Energy has clarified that upcoming nuclear weapons tests will not involve live nuclear explosions, despite recent directives from President Donald Trump that initially sparked global concern. Energy Secretary Chris Wright emphasized on Sunday that the planned activities are “system tests”—evaluations of all other components of nuclear weapons except the detonation itself.

Wright explained that these are “non-critical explosions”, designed to ensure that the weapons’ systems function correctly and can properly set up a nuclear blast if ever required. He reassured the public that no mushroom clouds or live detonations are expected, particularly at historic test sites such as the Nevada National Security Site.

The clarification comes after President Trump announced that he had instructed the Department of Defense to restart nuclear weapons testing “on an equal basis” with rival powers. The statement led to confusion over whether the U.S. was preparing to break its decades-long moratorium on explosive nuclear testing. Wright’s comments mark the first official confirmation that the moratorium remains intact for now.

The Energy Secretary also noted that the tests are intended to support the development of replacement nuclear weapons systems, ensuring they are more reliable than previous generations. By focusing on system functionality rather than explosive detonations, the U.S. aims to maintain its nuclear arsenal’s credibility without escalating tensions through visible nuclear blasts.

While Wright’s remarks may ease immediate fears of a return to Cold War–style nuclear detonations, the broader debate over nuclear modernization and arms competition remains unresolved. Critics argue that even non-explosive testing signals a step toward renewed nuclear brinkmanship, while supporters insist such measures are necessary to guarantee national security in an era of rising global competition.

In short, the U.S. government has confirmed that no nuclear explosions are planned at this time, though the renewed focus on weapons testing underscores the delicate balance between deterrence, diplomacy, and global stability.


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