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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 Vows Severe Response Against Iran Amid Escalating Tensions

 

Two F/A-18 Super Hornets launch from the flight deck of the US Navy Nimitz-class aircraft carrier USS Abraham Lincoln in support of the Operation Epic Fury attack on Iran.


U.S. President Donald Trump declared on Saturday that Iran would be “hit very hard,” signaling a potential expansion of military targets as regional conflict intensifies. In a post on Truth Social, Trump said he was considering widening the areas and groups “under serious consideration for complete destruction and certain death,” citing what he called Iran’s continued “bad behavior.” 

Trump also claimed that Iran had apologized to its Middle Eastern neighbors for recent strikes—an action he framed as a surrender—though he provided no additional details. The warning comes as U.S. and Israeli operations against Iran enter a heightened phase, with American bombers arriving in the U.K. in preparation for possible missions “within the next few days.”

The situation remains fluid as both sides exchange threats, and global leaders watch closely for signs of further escalation.

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