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BoC Held Again at 2.25% — But a Rate Hike Is Now More Likely Than Not Before Year-End

  Bond markets put the odds of an October 28 hike at 57%. Here's what the big banks are forecasting, what it means for your mortgage payment, and how to think about your next move. MoneySavings.ca · September 17, 2026 The Bank of Canada kept its overnight rate at 2.25% on September 2 — the seventh consecutive hold since the last cut in October 2025. On the surface, nothing changed. Below the surface, everything did. Governor Tiff Macklem's post-decision language was the most hawkish the Bank has sounded in over a year. He flagged that persistently high oil prices (Brent has since touched $107) and new U.S. tariffs — combined with Canada's own $27.6 billion retaliation list — are creating genuine upside risks to inflation. The BoC's August deliberations summary, released September 16, confirmed the Governing Council is now actively weighing a hike, not just a hold. The August CPI reading that came in on September 14 didn't settle anything: headline inflation held at ...

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Crispy Ginger Cookies

 

Ingredients:

  • 2 cups all-purpose flour
  • 2 teaspoons ground ginger
  • 1 teaspoon ground allspice
  • 1 teaspoon ground cinnamon
  • 1/2 teaspoon ground cloves
  • 1/2 teaspoon baking soda
  • 1/2 teaspoon salt
  • 1/4 teaspoon black pepper
  • 1/2 cup granulated sugar, plus 1/2 cup for rolling
  • 1/2 cup packed light brown sugar
  • 1/2 cup unsalted butter, at room temperature
  • 1 large egg
  • 1/4 cup molasses

Instructions:

  1. In a medium bowl, whisk together the flour, ginger, allspice, cinnamon, cloves, baking soda, salt, and pepper. Set aside.
  2. Using an electric mixer, beat ½ cup of the granulated sugar, brown sugar, and butter until light and fluffy, about 3 minutes, scraping down the sides of the bowl as necessary. Add the egg and beat for about 20 seconds, then scrape down the sides of the bowl. Add the molasses and beat until just combined, then scrape down the sides of the bowl again.
  3. Add the dry ingredients, then mix on low speed until just incorporated. The dough will be very soft; refrigerate it for about one hour, or until firm enough to roll.
  4. Preheat the oven to 350°F and set a rack in the middle position. Line a baking sheet with parchment paper.
  5. Place the remaining ½ cup granulated sugar in a shallow bowl. Form the dough into 1-inch balls and roll in the sugar to coat. Place the balls on the prepared baking sheet about 2 inches apart.
  6. Bake for 10 to 12 minutes, until set and golden on the outside and slightly soft on the inside. (As they bake, they will puff up and then flatten. Do not remove them from the oven until they are flat.) Let the cookies cool on the baking sheet for a few minutes, then transfer to a wire rack to cool completely. Refrigerate the dough between batches. The cookies will keep for several days in an airtight container; freeze for longer storage.

Enjoy!

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