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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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Thousands of Syrians Begin Journey Home from Turkey

 

Hundreds of Syrian refugees gathered at the Cilvegozu and Oncupinar border crossings in southern Turkey on Monday, eagerly awaiting their return home following the fall of President Bashar Assad’s government. Many arrived at the border gates at daybreak, wrapped in blankets and coats, some even setting up makeshift fires to keep warm.

Among the crowd was 28-year-old Muhammed Zin, who fled Damascus in 2016 and has been living in Istanbul. “Assad was shooting us, killing us,” he told the Associated Press. “I will return to Syria now. Thank God, the war is over,” he said.

Seer Ali, 18, who left Damascus six years ago, expressed similar sentiments. “We are very happy, very happy. Not just me, but everyone, all of us Syrians here are very happy,” he said. “Everyone will return, no one will stay here. They will all go to their families.”

Turkish officials have not disclosed the exact number of Syrians who have returned since Assad’s downfall. Authorities have set up checkpoints to ensure only those with proper documentation can advance to the border gate. The fall of Assad has sparked widespread joy among Turkey’s three million Syrian refugees, many of whom have taken to the streets to celebrate.

Turkish Foreign Minister Hakan Fidan stated, “We will continue our efforts to ensure the safe and voluntary return of Syrians and to rebuild the country.”

As the first major wave of refugees begins their journey home, the future remains uncertain, but hope and excitement fill the air.




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