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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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Your daily horoscope: November 17, 2023

 


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The more you listen to the small voice in your heart that knows all the answers the more fun you will have over the coming year. The higher part of your nature knows what you need to be happy, so don’t block it out with overly materialistic thoughts.

ARIES (March 21 - April 20):

If you are given information of a sensitive nature over the next 24 hours you must keep it to yourself. The fewer people know what you know the more likely it is you can make a profit from it – and there’s nothing wrong with that.

TAURUS (April 21 - May 21):

Socially and romantically this could be an excellent day but you will need to bear in mind that not everyone in this world is as thick-skinned as you. Sometimes you come out with remarks that are a major turn-off for people you should be turning on!

GEMINI (May 22 - June 21):

Not only are you amazingly active at the moment but you are also hugely ambitious, and what occurs today and over the weekend will provide you with the opportunity to make your mark on the world. Make sure it’s a mark everyone can applaud.

CANCER (June 22 - July 23):

Cosmic activity in two of the best areas of your chart urges you not to come across as shy or vulnerable, especially when dealing with people on whom your future success may depend. Show them you’ve got what it takes – and then take it!

LEO (July 24 - Aug. 23):

For some reason your powers of persuasion don’t seem as effective as they usually are. Maybe it’s a message from the universe that you need to stop talking for a while and listen to what other people are trying to say. It could be important.

VIRGO (Aug. 24 - Sept. 23):

If you can focus your energy in a single direction over the next few days there is every chance that you will accomplish something really good. You know what target you should be aiming for now, so go after it with every fiber of your being.

LIBRA (Sept. 24 - Oct. 23):

With so many opportunities to choose from you may be tempted to reach out and grab the first thing that comes to hand, but that would be a mistake. Stand back from events and decide which of those opportunities is worthy of your time and energy.

SCORPIO (Oct. 24 - Nov. 22):

There must be no holding back today: Go after your dream with every ounce of energy you possess and don’t stop until you have reached it and made it your own. Ignore those who say your plans are too big – if anything they are not big enough!

SAGITTARIUS (Nov. 23 - Dec. 21):

Be careful what you say to other people today because there will be a tendency for them to read into your words thoughts and feelings that are not really there. Some individuals can be amazingly touchy and this isn’t the right time to make fun of them.

CAPRICORN (Dec. 22 - Jan. 20):

Neptune’s influence in the communications area of your chart means you need to be careful when chatting with friends and loved ones as their thinking is likely to be muddled. If you keep your words short and simple there shouldn’t be a problem.

AQUARIUS (Jan. 21 - Feb. 19):

Do what needs to be done today and don’t worry what those you work with or for might think about it. Time spent making sure you look good in other people’s eyes is time wasted, so follow your instincts and let your reputation take care of itself.

PISCES (Feb. 20 - Mar. 20):

Neptune in your sign links with both the sun and Mars today, so don’t hold back – go after whatever ambition is currently inspiring you, even if it takes you to the ends of the Earth. Why are you suddenly so adventurous? Because you know you can’t lose!

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