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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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U.S. Signals Rapid Exit From Iran Conflict as Trump Escalates NATO Threats

Donald Trump scaled up threats to pull the United States out of the NATO defence alliance if European states did not help stop Iran blocking the Strait of Hormuz.

President Donald Trump has indicated that the United States may withdraw from the Iran conflict within weeks, even without a negotiated agreement, while simultaneously amplifying threats to pull the country out of NATO. 

Trump told reporters that U.S. involvement in the Iran war could end “within two weeks, maybe three,” stressing that Iran “doesn’t have to make a deal” for the U.S. to depart. His comments come amid ongoing missile and drone exchanges across the region, including strikes in Kuwait, Bahrain, and Tehran. 

At the same time, Trump criticized NATO allies for what he described as a lack of support in the conflict, calling the alliance a “paper tiger” and suggesting that withdrawing U.S. membership is now “beyond reconsideration.”

The remarks highlight Washington’s shifting and sometimes contradictory messaging as the conflict continues to disrupt global energy markets. The International Energy Agency warns that oil supply losses could double this month due to Iran’s effective closure of the Strait of Hormuz. 

The White House says Trump will address the nation with an update on Iran, signaling that major policy announcements may be imminent. 


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