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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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Trump Delays Planned Strikes on Iran Amid Last‑Minute Diplomatic Overtures

        President Donald Trump speaks to reporters on the South Lawn of the White House in Washington. 

President Donald Trump has postponed planned U.S. military strikes against Iranian power facilities just hours before a deadline tied to reopening the Strait of Hormuz. The decision follows what the president described as “good and productive conversations” with Tehran, signaling a temporary easing of tensions after days of escalating threats.

Trump had previously issued a 48‑hour ultimatum demanding Iran fully reopen the vital waterway or face the “obliteration” of its power infrastructure. Iran responded defiantly, warning it would retaliate by targeting regional energy sites and potentially mining the Persian Gulf. 

The postponement—set for five days—comes as global energy markets watch closely and regional militaries brace for potential escalation. While the delay offers a brief diplomatic window, both sides remain entrenched, leaving the situation volatile and uncertain. 


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