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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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Ottawa Public Servants Brace for Major Job Cut Announcements in the New Year

 

Federal Workers Await January Notices as Ottawa Prepares Job Cuts

Federal public servants across Canada are bracing for a wave of job‑cut announcements expected to begin in January, as departments prepare to roll out the government’s latest cost‑cutting measures.

Several federal organizations have already warned employees that details about workforce reductions will be shared early in the new year. The cuts stem from a government‑wide plan to reduce spending, streamline operations, and bring the public service back to what officials describe as a more sustainable size.

Departments are expected to use a mix of attrition, restructuring, and workforce adjustments to meet their targets. Early notices have already begun circulating in some organizations, with more formal announcements anticipated once employees return from the holiday break.

Unions representing federal workers say they are preparing for a period of uncertainty as the scope of the reductions becomes clearer. With tens of thousands of positions potentially affected over the coming years, many public servants are watching January closely, waiting to learn whether their roles will be impacted.



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