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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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7 Carry-On Essentials for a Smooth Flight, According to Travel Experts

 

Here are seven carry-on essentials recommended by travel reporters to make your next flight as smooth as possible:

  1. Fanny Pack: Keep your essential items like your wallet, boarding pass, keys, and passport easily accessible by wearing a fanny pack. This helps avoid the hassle of digging through your bag.

  2. Foot Hammock: A small, portable foot hammock can make a big difference in comfort, especially on long flights. It attaches to the tray table and allows you to rest your feet comfortably.

  3. Toothbrush and Toothpaste: Freshen up during long flights with a toothbrush and toothpaste. Keeping these in your carry-on ensures they’re easily accessible.

  4. Travel Blanket or Scarf: Airplanes can get quite cold, so having a light blanket or scarf can keep you warm and comfortable.

  5. Compression Socks: These help improve circulation and reduce swelling during long flights, making your journey more comfortable.

  6. Hand Sanitizer and Wipes: Keep your hands clean and sanitize your seating area with hand sanitizer and wipes.

  7. Entertainment: Bring a book, Kindle, or download movies and music to keep yourself entertained during the flight.


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