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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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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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