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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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Washington Presses Israel to Halt Strikes on Iran’s Energy Network

 

Smoke rises in Sharjah, following reports of Iranian attacks after United States and Israel strikes on Iran, in Sharjah, United Arab Emirates, March 1, 2026.


The United States has urged Israel to stop its ongoing attacks on Iran’s energy infrastructure, according to multiple reports citing senior U.S. and Israeli officials.

Key Developments

  • U.S. officials delivered the request at high political levels and directly to IDF Chief of Staff Eyal Zamir. 
  • The Trump administration outlined several strategic concerns:
    • A desire to maintain the possibility of future cooperation with Iran’s oil sector after the conflict.
    • Fears that continued strikes could harm Iranian civilians. 
    • Warnings that Iran might retaliate with large-scale attacks on Gulf energy infrastructure, a scenario described as a potential “doomsday option.” 

Context

The request marks a rare moment in which Washington is attempting to restrain Israeli military actions, despite the two nations having jointly targeted Iranian assets earlier in the conflict.

What This Means

The U.S. appears focused on preventing escalation that could destabilize global energy markets and draw Gulf states deeper into conflict. Israel has not publicly responded to the reported request, leaving uncertainty about whether the strikes will continue.

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