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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 ‘Very Hard’ Response Against Iran After Sanctions Shift on Russian Oil

 

Iranians take part in a protest marking the annual al-Quds Day (Jerusalem Day) on the last Friday of the holy month of Ramadan, in Tehran.


President Donald Trump announced that the United States will strike Iran “very hard over the next week,” a declaration that came shortly after his administration issued a partial 30‑day waiver allowing purchases of sanctioned Russian oil. The move, intended to ease soaring global energy prices amid the U.S.-Israeli conflict with Iran, has drawn international scrutiny. 

The temporary easing of sanctions on Russian oil is part of a broader strategy to stabilize markets shaken by the ongoing Middle East war. Energy prices have surged and then fluctuated sharply in recent days, prompting the administration to adjust its approach to maintain supply and reduce economic pressure. 

Trump’s warning toward Iran signals a potential escalation in an already volatile regional conflict, even as the U.S. attempts to manage global energy disruptions. The dual strategy—loosening sanctions on Russia while preparing intensified action against Iran—highlights the administration’s effort to balance geopolitical pressure with economic stability.

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