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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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Peppery Roast Beef:

 


With its spicy peppery coating and creamy horseradish sauce, this tender roast is sure to be a favorite in your household.

  • Ingredients:

    • 1 boneless beef eye round or top round roast (4 to 5 pounds)
    • 1 tablespoon olive oil
    • 1 tablespoon seasoned pepper
    • 2 garlic cloves, minced
    • 1/2 teaspoon dried thyme
    • 1/4 teaspoon salt
    • Horseradish Sauce:
      • 1 cup sour cream
      • 2 tablespoons lemon juice
      • 2 tablespoons milk
      • 2 tablespoons prepared horseradish
      • 1 tablespoon Dijon mustard
      • 1/4 teaspoon salt
      • 1/8 teaspoon pepper

  • Directions:

    1. Preheat oven to 325°.
    2. In a small bowl, combine the oil, seasoned pepper, garlic, thyme and salt; rub over roast.
    3. Place fat side up on a rack in a shallow roasting pan.
    4. Bake, uncovered, 2-1/2 to 3 hours or until meat reaches desired doneness (for medium-rare, a thermometer should read 135°; medium, 140°; medium-well, 145°).
    5. Let stand for 10 minutes before slicing.
    6. In a small bowl, combine the sauce ingredients.
    7. Serve with roast.


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