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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 Israel and Iran Exchange Strikes Amid U.S. Military Buildup

An armoured personnel carrier (APC) and a self-propelled artillery unit at the Israeli side of the border with Lebanon, amid escalation between Iran-backed HezbREUTERS/Tyrone Siu


The conflict between Israel and Iran escalated sharply as both nations launched attacks over the weekend, prompting the United States to deploy thousands of additional Marines to the Middle East. 

Intensifying Regional Conflict

  • Israel struck targets in Iran and Beirut, citing threats from Iran‑backed Hezbollah and ongoing hostilities linked to the broader U.S.–Israeli confrontation with Tehran.
  • Iran retaliated with missile and drone attacks across the region, including strikes on Gulf energy infrastructure and attempts to hit U.S.–U.K. military installations. 

U.S. Military Response

  • The United States accelerated the deployment of thousands of Marines and sailors to reinforce its presence in the Middle East as the conflict widened. 
  • President Donald Trump criticized NATO allies for hesitating to support efforts to secure the Strait of Hormuz, a critical global shipping route. 

Growing Human and Economic Impact

  • Casualties continue to rise, with more than 1,400 people reported killed in Iran alone as the conflict enters its fourth week. 
  • Attacks on energy facilities have contributed to surging oil and gas prices, raising concerns about global economic fallout. 

As tensions deepen and military actions expand across multiple fronts, fears of a prolonged regional crisis continue to mount.

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