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Why Interest Rates Matter for Canadians

Interest rates are the single most powerful lever in Canada's economy.  When the Bank of Canada adjusts its policy rate, the effects reach every household—from the cost of carrying a mortgage to the return on a savings account. With rates currently at 2.25% and significant uncertainty ahead, understanding how rates work has never been more important for your finances. What Is the Bank of Canada's Policy Rate? The Bank of Canada sets the overnight policy rate—the interest rate at which major banks lend money to each other. This rate serves as a benchmark that influences borrowing and lending costs across the entire economy. When the Bank raises or lowers this rate, commercial banks adjust their prime rates accordingly, which directly affects the rates you pay on mortgages, lines of credit, and other loans. The Bank's primary goal is to keep inflation near its 2% target. When inflation runs too hot, the Bank raises rates to cool spending. When the economy slows, it cuts rates...
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Healthy Kids Recipes: Weeknight Turkey Tortilla Soup


Weeknight Turkey Tortilla Soup

Ingredients

  • 1 tablespoon olive oil
  • 1 large onion, chopped
  • 1 garlic clove, minced
  • 6 cups reduced-sodium chicken broth
  • 1 can (15 ounces) diced tomatoes, undrained
  • 1 can (4 ounces) chopped green chiles
  • 1 envelope reduced-sodium taco seasoning
  • 2 cups cubed cooked turkey
  • 2 cups frozen corn (about 10 ounces), thawed
  • 1/3 cup minced fresh cilantro
  • Optional toppings: tortilla strips, shredded Monterey Jack cheese, sliced avocado and lime wedges


Directions

  • In a Dutch oven, heat oil over medium-high heat. Add onion; cook and stir until tender, 1-2 minutes. Add garlic; cook 1 minute longer. Add broth, tomatoes, chiles and taco seasoning; bring to a boil. Reduce heat; simmer 5 minutes. Add turkey and corn; heat through. Stir in cilantro before serving. Serve with toppings of your choice.

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