Macklem just asked your household's question out loud. Answer it before October 28.

TL;dr: Tiff Macklem told reporters on Saturday that the Bank of Canada will raise its quarterly inflation forecast significantly this month because oil prices are staying high, and that the new forecasts feed straight into the October 28 rate decision. Markets are pricing no move on the 28th or in December, but about 100 basis points of hikes through next year. If you have a renewal coming up, that priced path is the number to plan around, not today's rate. What he actually said is worth...