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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: April 4, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The message of the stars this year is that you don’t need to go to the ends of the Earth to find happiness – everything you require is right there in front of you. The more you appreciate what you’ve got the less you will crave what you cannot have.

ARIES (March 21 - April 20):

First impressions are of the utmost importance and with Venus about to join the sun in your sign you will say and do the right things at the right time and make a big impact on everyone you meet. Others will especially admire your laidback attitude.

TAURUS (April 21 - May 21):

You seem to be under the impression that you need other people’s approval for what you are about to do but that isn’t true. They have no power to stop you moving in a new direction, so why waste time worrying about what they might think?

GEMINI (May 22 - June 21):

Your confidence will grow in leaps and bounds over the next few days and your positive outlook on life will be so infectious that even people who enjoy wallowing in despair will be inspired to break out of their doom loop and start smiling again.

CANCER (June 22 - July 23):

You seem to be flavour of the month on the work front at the moment and if you are smart you will take full advantage and make yourself indispensable to employers and senior colleagues. Charm them into giving you a raise or promotion.

LEO (July 24 - Aug. 23):

If you feel like getting out into the wider world, maybe even taking a trip to some faraway place you have always wanted to visit, then make it happen today. You have thought about it long enough, now get online and buy that ticket.

VIRGO (Aug. 24 - Sept. 23):

It is important that what you wish for inside your head is what you truly want to experience in the world at large. Your thoughts have extra power at the moment, so enjoy your daydreams but make sure they don’t get out of control.

LIBRA (Sept. 24 - Oct. 23):

You won’t need to be overly assertive to get what you want between now and the weekend. As your ruling planet Venus is about to move into the partnership area of your chart you will gain more from persuasion than from coercion. Charm your way to success.

SCORPIO (Oct. 24 - Nov. 22):

The cosmic picture is good for you now and work-related matters will go particularly well over the next few days. Colleagues will be impressed by your can-do attitude and your ability to stay calm while others are running around in a panic.

SAGITTARIUS (Nov. 23 - Dec. 21):

If you face up to a domestic issue of some sort today you will find it easy to resolve – and may even wonder why it took you so long to get round to it. Next time, don’t give what starts out as a minor disagreement time to grow larger.

CAPRICORN (Dec. 22 - Jan. 20):

Do whatever it takes to get along with people you work and do business with but don’t lose sight of the fact that they are also potential rivals. If you can make money together that’s great, but don’t let them know all your plans and secrets.

AQUARIUS (Jan. 21 - Feb. 19):

Someone you meet while on the move today will set your heart racing and make you wonder if this could be the relationship you have been waiting for. Maybe it is and maybe it isn’t but you will certainly enjoy some fun times together.

PISCES (Feb. 20 - Mar. 20):

Your attitude toward material things will change considerably when Venus moves into the money area of your chart tomorrow. For one thing you will no longer be inclined to worry that you may not be able to make ends meet. You will always find a way.


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