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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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Mexico Threatens Retaliation Over Proposed Tariffs, Warns of Job Losses


Mexican President Claudia Sheinbaum has issued a stern warning against the proposed 25% tariffs by U.S. President-elect Donald Trump, stating that such measures could result in the loss of 400,000 U.S. jobs and increased prices for American consumers. Sheinbaum emphasized that Mexico would respond with reciprocal tariffs if the U.S. proceeds with the plan.

During a press conference, Sheinbaum highlighted the potential impact on the automotive sector, noting that nearly 90% of pickup trucks sold in the U.S. are manufactured in Mexico. Economy Minister Marcelo Ebrard echoed these concerns, calling the proposed tariffs a "shot in the foot" that would harm both U.S. workers and companies.

The Mexican government has also expressed confidence that the U.S.-Mexico-Canada Agreement (USMCA) would protect their trade interests. Sheinbaum and Trump discussed the issue in a recent phone call, with Trump claiming that Sheinbaum agreed to address migration and drug smuggling.

The situation remains tense as both countries navigate the complexities of trade relations and the potential economic fallout of the proposed tariffs.




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