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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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Relentless Storm Slams Greece, Leaving One Dead and Widespread Flooding

 

People walk amid a haze caused by sand dust from the Sahara, due to strong southern winds, in Heraklion, Crete.

A powerful storm system has swept across Greece, unleashing torrential rain, fierce winds, and severe flooding that has left one person dead and caused significant disruption to daily life.

Emergency services reported dozens of calls for rescues as rising waters inundated homes, blocked roads, and stranded residents in several regions. Transportation networks were hit hard, with flights delayed, ferry routes suspended, and major highways temporarily closed due to dangerous conditions.

Authorities have urged residents to avoid unnecessary travel and remain alert as meteorologists warn that more heavy rainfall could follow. Local officials are already assessing damage to infrastructure, while cleanup crews work to clear debris and restore essential services.

Events like this are becoming increasingly common across southern Europe, where extreme weather patterns continue to test emergency preparedness and resilience.


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