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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: November 14, 2024

 


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Tensions between your ambitions on the work front and your need to have an enjoyable social life will come to the surface over the next 12 months. By planning your daily and weekly schedules carefully you can get the best of both worlds.

ARIES (March 21 - April 20):

You could get involved in a battle of wills today with someone whose stubbornness is a match for your own. It’s the kind of battle that neither side can win, so be ready to compromise and accept an honourable draw when the opportunity arises.

TAURUS (April 21 - May 21):

Take your time and think things through today. The planets warn if you rush into making a decision now you may have to unmake it tomorrow when the moon is full in your sign. The clock isn’t ticking, so why put yourself under pressure?

GEMINI (May 22 - June 21):

The approaching full moon could make it feel as if something is missing from your life. Maybe it is but this is not the right time to make wholesale changes, especially on the work front where you could be somewhat impulsive today.

CANCER (June 22 - July 23):

If someone tries to stop you from doing what you want to be doing today you will of course do it just to spite them. Later on though you will have to admit that if you had followed their advice you might be in a more profitable position.

LEO (July 24 - Aug. 23):

Keep in mind today that in the greater scheme of things your problems are pretty low grade. The upcoming full moon makes it seem as if what’s happening signals the end of the world, or at least the end of the line, but that’s an illusion.

VIRGO (Aug. 24 - Sept. 23):

You can sense that your rivals are watching you closely and hoping that you will make an error they can pounce on. They are going to be disappointed though as you are in one of those moods when you expect of yourself nothing less than perfection.

LIBRA (Sept. 24 - Oct. 23):

Try not to be suspicious when dealing with people whose aims and ambitions don’t seem to make sense. Just because you don’t understand their motives does not mean they are up to no good. Chances are they don’t understand your motives either!

SCORPIO (Oct. 24 - Nov. 22):

You may not be looking for trouble but most likely it will find you today, no matter how hard you try to keep a low profile. If you do have to battle it out with a rival make sure you give 100 per cent. You cannot afford to lose.

SAGITTARIUS (Nov. 23 - Dec. 21):

One or two doubts have crept into your mind in recent weeks and tomorrow’s full moon is sure to magnify them. What you must understand is that not a single one of those doubts has any basis in reality. You’re worrying for no reason.

CAPRICORN (Dec. 22 - Jan. 20):

Because you know there is no such thing as a free lunch you will be wary of anyone who offers you something for nothing today. Under the influence of the current full moon you can and you must question everything. If in doubt, don’t do it!

AQUARIUS (Jan. 21 - Feb. 19):

If you said something harsh to a friend or loved one a while back your words could return to haunt you over the next 24 hours. You may have forgotten about it but they most certainly have not, so an apology may be necessary.

PISCES (Feb. 20 - Mar. 20):

Because you like to think the best of people you can sometimes leave yourself open to being taken advantage of and that could be a problem between now and the weekend. Question everything you are told both at home and at work.

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