Canadians are in for another Bank of Canada (BoC) interest rate announcement next week amid ongoing economic uncertainty. Before that, Canada had made two 0.25 per cent cuts to its key interest rate, with the last one on March 12. According to Statistics Canada, the inflation rate in June rose slightly to 1.9 per cent, up from 1.7 per cent in May. How mortgage rates and housing could be affectedCanadians on fixed mortgage rates could be in for some more rate hikes. "As a result, a number of lenders have increased their fixed mortgage rates, and could be poised to hike them further."