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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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Trump Asserts No Cost Limit on Mass Deportation Plan

 

In a recent interview, President-elect Donald Trump reiterated his commitment to a large-scale deportation plan, emphasizing that there would be "no price tag" on the effort to remove millions of undocumented immigrants from the United States. Trump stated that his administration would prioritize making the U.S. border "strong and powerful," and that the cost of the deportations was secondary to the necessity of the action.

Trump's plan, which he described as the "largest deportation effort in American history," aims to target undocumented immigrants involved in criminal activities, including drug lords and murderers. He argued that the deportations are essential for national security and public safety, despite the significant logistical and financial challenges involved.

Critics have raised concerns about the humanitarian and economic impacts of such a sweeping deportation policy. They argue that the removal of millions of immigrants could disrupt industries reliant on undocumented labor and lead to significant economic instability. Additionally, immigrant rights groups are preparing to challenge the plan through legal battles.

As Trump prepares to take office, the debate over his immigration policies continues to intensify, with both supporters and opponents gearing up for what promises to be a contentious issue in the coming months

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