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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 Doctor Battles $600K COVID-19 Billing Repayment in Court

 

Dr. Elaine Ma, right, administers a dose to a patient during a drive-thru COVID-19 vaccination clinic at St. Lawrence College in Kingston, Ont., on Jan. 2, 2022.

A Kingston family physician, Dr. Elaine Ma, is challenging a provincial order requiring her to repay more than $600,000 to Ontario’s Health Insurance Plan (OHIP) over alleged improper billing tied to COVID-19 vaccinations.

Dr. Ma, widely recognized for her role in organizing drive-through vaccination clinics during the height of the pandemic, administered shots to thousands of residents at sites such as St. Lawrence College and Richardson Stadium. Her efforts earned her praise as a “hero” and an Award of Excellence from the Ontario College of Family Physicians in 2021.

However, provincial auditors later determined that her clinics did not meet OHIP’s billing requirements. Officials allege she billed 21 times the eligible payment amounts, leading to a repayment order of approximately $600,962.61 plus interest for services provided between July 2021 and January 2022.

Dr. Ma has since filed for a judicial review in Ontario’s Divisional Court, arguing that the repayment order is unfair given the extraordinary circumstances of the pandemic and the urgent need for mass vaccination. She has expressed uncertainty about the consequences if repayment is not made, noting that her billings could be garnished.

The case highlights the tension between frontline medical efforts during the pandemic and the province’s strict billing rules. While Dr. Ma’s clinics vaccinated more than 27,000 people, the Ministry of Health maintains that proper procedures were not followed. The outcome of the court review could set a precedent for how Ontario handles similar disputes involving pandemic-era medical services.

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