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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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Greek Prime Minister Plans Cabinet Shake‑Up as Farm Aid Scandal Widens

 

Greek Prime Minister Kyriakos Mitsotakis takes part in a joint press conference at Paphos military airport.


Greece’s government is bracing for a significant political reset as the prime minister prepares to reshuffle his cabinet following a growing scandal over alleged misuse of European Union agricultural subsidies.

The controversy erupted after investigations suggested that individuals with no farming activity may have improperly received EU aid intended for agricultural producers. The revelations have triggered public criticism and placed pressure on the government to demonstrate accountability.

According to reports, the planned reshuffle aims to restore public trust, tighten oversight of subsidy programs, and reinforce the administration’s commitment to transparency. Several ministries connected to rural development and financial management are expected to see changes, though official details have not yet been released.

The scandal has also prompted renewed calls for stricter monitoring of EU funds across member states, highlighting long‑standing concerns about fraud and bureaucratic loopholes in agricultural support programs.

As the government moves to contain the fallout, political analysts suggest the reshuffle may serve both as damage control and an attempt to reassert stability ahead of upcoming policy battles.


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