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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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Allies Hold Back: Japan and Australia Reject Trump’s Hormuz Naval Appeal

 

Dubai authorities said they had contained a fire but temporarily suspended flights at the airport after a drone attack hit a fuel tank.


Japan and Australia have firmly declined U.S. President Donald Trump’s request to deploy naval vessels to help secure the Strait of Hormuz, signaling a clear reluctance among key allies to join Washington’s proposed coalition.

Japan and Australia have publicly stated they will not send naval ships to the Middle East in response to President Donald Trump’s call for an international coalition to safeguard the Strait of Hormuz. The U.S. administration had urged several allied nations to contribute military support to reopen and secure the vital waterway, which has been disrupted amid ongoing regional conflict.

Despite Washington’s pressure, officials in Tokyo and Canberra emphasized that they currently have no plans to deploy warships to escort commercial vessels through the strait. Their refusal marks a significant setback for Trump’s efforts to assemble a broad maritime security coalition, especially as the strait remains a critical artery for global oil shipments. 

Both countries signaled caution, noting the complexities of the regional conflict and the need to prioritize their own strategic considerations. Their stance reflects a broader hesitancy among U.S. allies to become directly involved in the escalating tensions surrounding the waterway. 

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