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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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Canada Post Proposes New Framework to End Strike and Reach Agreement


Canada Post has recently presented a comprehensive framework to the Canadian Union of Postal Workers (CUPW) in an effort to resolve the ongoing strike and reach a negotiated agreement. The framework includes proposals aimed at increasing flexibility in the delivery model and addressing key issues in the labor dispute.

The strike, which began over two weeks ago, has been affecting the timely delivery of mail and parcels, especially as the holiday season approaches. The union is currently reviewing the framework documents, and both parties have adjusted their demands in hopes of restarting negotiations.

Federal Labour Minister Steven MacKinnon has emphasized the need for both sides to make sufficient modifications to their positions before mediation can resume. Canada Post remains committed to negotiating new collective agreements that will provide certainty for both employees and customers.

The union has expressed concerns that the framework does not fully consider the labour minister's comments about the agreement needing to be "ratifiable." However, there is hope that with the support of mediators, discussions can be reignited and a final agreement can be reached.

Canada Post has stated that it will not provide further details on the framework outside of the negotiations to facilitate talks. The corporation acknowledges the impact the strike is having on Canadians and remains dedicated to resolving the dispute.






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