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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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Health Crisis in Gaza: Children Suffer Amid Overcrowded Camps

 

In the overcrowded tent camps of Gaza, a health crisis is unfolding as children suffer from a range of skin diseases. Health officials report a surge in cases of lice, scabies, and rashes, exacerbated by the dire living conditions. Over 103,000 cases of lice and scabies and 65,000 cases of skin rashes have been documented.

The root of the problem lies in the appalling conditions within the camps, which house hundreds of thousands of Palestinians displaced from their homes. The summer heat, combined with a collapse in sanitation, has created an environment ripe for disease. Pools of open sewage and a lack of clean water have left families struggling to maintain basic hygiene.

Parents describe the heartbreaking reality of watching their children suffer. “There’s no shampoo, no soap,” says Munira al-Nahhal, a resident of one of the camps. “The water is dirty. Everything is sand and insects and garbage.” Children are often seen scratching at red patches on their skin, with some developing open sores from constant irritation.

Efforts to combat the spread of these diseases are hampered by the lack of resources. Clean water is scarce, and many families resort to washing their children in salt water from the Mediterranean. The situation is further compounded by the ongoing conflict, which has left the region’s infrastructure in ruins.

As the crisis continues, the need for international aid and intervention becomes increasingly urgent. Without immediate action, the health and well-being of Gaza’s children remain at severe risk.



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