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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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Holiday Turbulence: Flight Delays Hit Major Canadian Airports on Boxing Day

 

Passengers wait in a check-in line at Vancouver International Airport after a snowstorm crippled operations during the holidays in 2022. 


Travelers across Canada are facing a challenging Boxing Day as major airports report widespread delays and cancellations triggered by winter weather and heavy post‑holiday traffic. With thousands of passengers returning home or heading out for year‑end vacations, the timing couldn’t be more disruptive.

Toronto Pearson, the country’s busiest airport, is experiencing the most significant impact. A mix of snow, freezing drizzle, and strong winds has slowed de‑icing operations and reduced runway capacity. Long lines at security and check‑in counters are adding to the congestion, with some travelers reporting wait times stretching beyond an hour.

Ottawa, Montreal, and Vancouver airports are also dealing with delays, though to varying degrees. In Eastern Canada, Halifax is managing a combination of fog and residual holiday traffic, while airports in the Prairies are contending with frigid temperatures that complicate ground operations.

Airlines are urging passengers to check their flight status before leaving home and to arrive early, as staffing shortages and weather‑related slowdowns continue to ripple through the system. Many carriers are offering flexible rebooking options to help ease the strain.

Despite the frustrations, airport officials say crews are working around the clock to keep flights moving safely. For now, patience is becoming the most valuable travel accessory of the season.

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