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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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Tragedy on the Runway: Air Canada Pilots Killed in LaGuardia Collision

 

Debris hangs from the damaged Air Canada jet that had collided with a fire truck at New York's LaGuardia Airport Sunday night.

An Air Canada Express CRJ‑900 jet crashed into a fire truck while landing at New York’s LaGuardia Airport late Sunday night, killing both the pilot and co‑pilot and injuring multiple passengers. The aircraft, operating as a Jazz Aviation flight from Montreal with 72 passengers and four crew members on board, struck a Port Authority firefighting vehicle that had entered the runway moments before touchdown. 

The collision occurred around 11:40 p.m., prompting an immediate shutdown of LaGuardia Airport as emergency crews responded. Authorities confirmed that all passengers were accounted for, with more than a dozen sustaining injuries of varying severity. The airport is expected to remain closed until at least early Monday afternoon as investigators examine the circumstances leading to the fatal runway incursion. 

Early air‑traffic recordings captured urgent warnings from controllers moments before impact, including a call instructing the fire truck to stop. Officials from the Port Authority and federal aviation agencies are now working to determine why the emergency vehicle was on the active runway during the aircraft’s landing sequence. 

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