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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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Sarah Mullally Set to Become Archbishop of Canterbury

Archbishop of Canterbury Sarah Mullally walks during an 87-mile pilgrimage from St Paul's Cathedral to Canterbury Cathedral ahead of her installation ceremony as archbishop.

Dame Sarah Mullally is poised to make history as she prepares to become the first woman to serve as Archbishop of Canterbury, the most senior bishop in the Church of England. Her appointment marks a significant milestone in the Church’s ongoing journey toward greater inclusion and representation.

Mullally, who previously served as Bishop of London, has long been recognized for her compassionate leadership and her commitment to social justice. Before entering ministry, she built a distinguished career in nursing and even served as England’s Chief Nursing Officer—experience that has shaped her pastoral approach and public service ethos.

Her upcoming installation signals not only a personal achievement but also a broader cultural shift within the Anglican Communion. Supporters see her leadership as a powerful symbol of progress, while many hope her tenure will bring renewed energy to issues such as community outreach, equality, and modernizing the Church’s role in society.

As she steps into this historic role, Mullally carries both the weight of tradition and the promise of change—an intersection that may define the next chapter of the Church of England.

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