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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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Ukraine Unveils Wreckage of Russia’s New Ballistic Missile

 

Ukraine’s Security Service (SBU) has provided The Associated Press with exclusive access to the wreckage of a new Russian ballistic missile, claiming it as evidence of Moscow’s escalating military capabilities in the ongoing conflict. The remains were displayed at an undisclosed location, with Ukrainian officials asserting the missile represents a significant technological advancement in Russia’s arsenal.

The missile, believed to be a next-generation weapon, was reportedly intercepted during an attack on Ukrainian infrastructure earlier this week. “This is a clear signal that Russia is intensifying its aggression with increasingly sophisticated weapons,” an SBU spokesperson stated.

Military analysts examining the wreckage highlighted the missile’s enhanced range and precision, which could pose greater challenges for Ukrainian air defenses. Ukrainian officials have called for increased Western support, including advanced anti-missile systems, to counter these threats.

Russia has yet to comment on Ukraine’s claims, but the display comes as tensions remain high amid ongoing strikes and counteroffensives. The new weaponry raises concerns about the potential for further escalation in the conflict.


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