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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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Ontario to Boost Minimum Wage Again This October

 

Ontario's wage increase of 2.4 per cent to $17.60 per hour is based on the Ontario Consumer Price Index.


Ontario’s minimum wage is set for another increase on October 1, continuing the province’s annual inflation‑based adjustments. Below is a concise, news‑style article with a fresh title, summarizing what workers and employers need to know.

Ontario’s minimum wage is scheduled to rise on October 1, marking another step in the province’s ongoing effort to keep wages aligned with inflation and support workers facing rising living costs. According to recent provincial announcements, the minimum wage—currently $17.60 per hour—will increase to $17.95 per hour, reflecting adjustments tied to the Ontario Consumer Price Index. 

The government notes that this annual increase helps maintain workers’ purchasing power while keeping Ontario among the provinces with the highest minimum wage rates. After the adjustment, Ontario will rank just behind British Columbia, Yukon, and Nunavut in minimum wage levels. 

For full‑time minimum‑wage employees working 40 hours per week, the increase represents an estimated additional $728 per year.

Labour Minister David Piccini has emphasized that these yearly adjustments are part of a broader strategy to support workers amid economic pressures and ensure predictable wage growth for employers. 

While the increase offers some relief, advocacy groups such as the Ontario Living Wage Network continue to highlight the gap between the minimum wage and the estimated $27.20 per hour needed for a living wage in the Greater Toronto Area.

Overall, the October 1 increase reflects Ontario’s ongoing commitment to inflation‑indexed wage policy—providing incremental boosts that help workers manage rising costs while maintaining stability for businesses.

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