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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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Rising Tensions as Trump Acknowledges Risk of U.S. Casualties in Iran Strikes

 

                               Smoke in the sky over Jerusalem, after missiles were launched from Iran towards Israel  


U.S. President Donald Trump has confirmed that the United States has launched what he described as “major combat operations” in Iran, cautioning that American casualties are possible as the conflict escalates. According to multiple reports, the strikes are aimed at dismantling Iranian missile capabilities and crippling its naval forces. Trump emphasized that his administration has taken extensive measures to reduce risks to U.S. personnel, but acknowledged that loss of life “often happens in war.” 

In a video message, Trump stated that the Iranian regime “seeks to kill,” underscoring the gravity of the situation and the potential dangers facing U.S. service members. He framed the military action as a necessary step to counter Iran’s nuclear and ballistic missile ambitions, following repeated warnings from both the United States and Israel. 

The developments mark a significant escalation in regional tensions, with the administration urging vigilance and preparing the public for the possibility of casualties as operations continue.

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