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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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S&P 500 Knocks on Record's Door as Oil Retreats and Iran Talks Revive — April 15, 2026





MoneySavings.ca  ·  Daily Market Brief

Wednesday, April 15, 2026  ·  Morning Edition

S&P 500 knocks on record's door as oil retreats and Iran talks revive

S&P 500 Futures
7,002
Flat  ·  near all-time high
Nasdaq Futures
25,990
Flat  ·  10-day win streak
Dow Futures
48,700
▼ −0.11%
WTI Crude
$92.52
▼ Down from $104 peak

Markets are pausing for breath on Wednesday after a powerful two-day rally pushed the S&P 500 to within striking distance of its all-time high of 7,002. Futures are holding flat ahead of the open as investors weigh a packed earnings slate and watch U.S.-Iran diplomacy for the next catalyst.

Tuesday's session delivered broad gains — the S&P 500 rose 1.18% to 6,967, the Nasdaq surged 1.96% to 23,639, and the Dow added 0.66% to close at 48,536. A cooler-than-expected Producer Price Index reading for March helped fuel the rally, easing near-term inflation concerns. The Nasdaq is now on a 10-session winning streak, its longest run since 2021.

Key watch: A White House official confirmed a second round of U.S.-Iran negotiations is under discussion. Oil has pulled back sharply from its $104 peak to around $92.52 — welcome news for Canadian households facing elevated fuel and heating costs.

Today's earnings: Bank of America, Morgan Stanley & ASML

Bank of America and Morgan Stanley headline today's earnings calendar, alongside PNC Financial Services. Chip equipment giant ASML already posted strong quarterly results before the open, driven by intense AI-related demand — a positive signal for the broader tech sector heading into the rest of earnings season.

Morgan Stanley's chief investment officer Mike Wilson told CNBC this week that he believes market lows are in, pointing to a rotation back into pro-cyclical sectors as a sign that investors expect a constructive second half of 2026.

Canadian angle

For TSX investors, falling oil prices cut both ways — energy stocks may give back recent gains, but the broader inflation picture improves for Canadian consumers and the Bank of Canada. With the S&P 500 approaching record territory and the Nasdaq on a historic winning streak, sentiment heading into the Canadian session is cautiously optimistic.

Information is for general purposes only and does not constitute financial or investment advice. Market data may be delayed. Always consult a licensed financial advisor before making investment decisions. © 2026 MoneySavings.ca

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