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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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Deadly Night in Kharkiv as Russian Strikes Devastate Residential Areas

                                Rescuers work at the site of an apartment building hit by a Russian missile strike.

Russia launched a wave of drones and missiles across Ukraine overnight, with Kharkiv suffering some of the deadliest impacts. At least seven people, including children, were killed when a missile struck a five‑story residential building in the city. Emergency crews battled fires and searched through rubble as officials reported at least 10 additional injuries. 

The attack triggered a nationwide air‑raid alert as ballistic missiles and drones targeted multiple regions. Ukrainian President Volodymyr Zelenskyy condemned the strikes and called for a stronger international response. Local authorities described widespread damage to infrastructure and residential areas, underscoring the continued intensity of Russia’s campaign. 

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