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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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TSB Investigates Cause of Halifax Plane Incident: Tilt and Flames During Landing

 

The Transportation Safety Board of Canada (TSB) has launched an investigation into a dramatic incident involving an Air Canada Express flight at Halifax Stanfield International Airport. The incident occurred late Saturday night when the Bombardier Q400 aircraft, operated by PAL Airlines, experienced a rough landing that caused the plane to tilt and sparks to fly from its wing, igniting flames.

Passengers on board reported feeling a "massive rumble" upon landing, followed by the sight of sparks and flames, and smoke entering the cabin. Airport spokesperson Tiffany Chase confirmed that the plane, arriving from St. John's, N.L., experienced a suspected landing gear issue, which prevented it from reaching the terminal.

Despite the alarming situation, all 73 passengers and crew members were safely evacuated by bus, with no serious injuries reported. The airport was temporarily closed for about 90 minutes, causing flight diversions and cancellations.

The TSB's investigation aims to determine the exact cause of the landing gear malfunction and assess whether any safety protocols were breached. The aviation community is closely watching the investigation, hoping to prevent similar incidents in the future.



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