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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...

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Putin Pushes Back on U.S. Peace Plan, Talks Drag On

Russian President Vladimir Putin, rear centre, Russian Direct Investment Fund chief executive Special Presidential Representative for Investment and Economic Cooperation with Foreign Countries Kirill Dmitriev, right, attend the talks with US special.

Russian President Vladimir Putin has signaled that progress toward ending the war in Ukraine remains elusive, declaring that some proposals in the U.S.-backed peace plan are unacceptable to the Kremlin. His remarks followed hours of talks in Moscow with American envoys, including President Donald Trump’s special representative Steve Witkoff and adviser Jared Kushner.

Putin described the discussions as “necessary” and “useful,” but also “difficult work.” The sticking points reportedly center on territorial concessions and security guarantees for Ukraine, issues that have long divided negotiators. Washington’s plan seeks to halt years of fighting, but Moscow continues to resist terms that would require Ukraine to surrender land or rely on Western-backed security assurances.

Kremlin spokesperson Dmitry Peskov later clarified that Putin had not outright rejected the plan, but rather accepted some elements while rejecting others. He emphasized that talks will continue for as long as needed, underscoring the slow pace of diplomacy.

Meanwhile, U.S. envoys are expected to meet with Ukraine’s lead negotiator, Rustem Umerov, in an effort to bridge gaps between Kyiv and Moscow. Despite the intense shuttle diplomacy, the absence of a breakthrough highlights the deep mistrust and irreconcilable demands that still define the conflict.

The latest round of negotiations suggests that while both sides remain engaged, a comprehensive peace deal is far from imminent. For now, the war continues, and the diplomatic path forward looks set to be long and arduous.

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