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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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Mojtaba Khamenei Takes Helm as Iran’s New Supreme Leader Amid Turmoil

 

                Mojtaba Khamenei, the second son of Iran's former Supreme Leader Ayatollah Ali Khamenei


Iran has officially named Mojtaba Khamenei, the second son of the late Ayatollah Ali Khamenei, as the country’s new supreme leader, marking a historic and controversial moment for the Islamic Republic. The decision, announced by Iranian state media, comes just over a week after Ali Khamenei was killed in joint U.S.–Israeli strikes, an event that has plunged the nation into political uncertainty and heightened regional tensions. 

Mojtaba Khamenei, a mid-ranking cleric long known for his behind-the-scenes influence, has never held elected office but has cultivated deep ties within Iran’s security establishment, particularly the Islamic Revolutionary Guard Corps. His appointment by the Assembly of Experts signals a push for continuity within the ruling elite, despite the Islamic Republic’s ideological discomfort with hereditary succession. 

The transition unfolds as Iran faces one of the most significant threats to its stability in decades, with ongoing military strikes, internal power struggles, and international scrutiny. Whether Mojtaba’s leadership will consolidate authority or intensify existing fractures remains an open question as the nation navigates this volatile chapter. 

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