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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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Unexpected Oasis: The Buddha Statue in New Jersey Unites Faiths

 

Just off a bustling state highway in Franklin Township, New Jersey, stands one of the largest Buddha statues in the United States. Rising 30 feet high from the woods near Princeton, this statue has become an unexpected interfaith hub and spiritual home for many.

Built a decade ago under the leadership of a Sri Lankan monk ordained in Theravada Buddhism, the statue is part of the New Jersey Buddhist Vihara and Meditation Center. The monk's dream was to unite people of all faiths, and today, that vision is a reality.

The center has become a gathering place for practicing Buddhists, Hindus, and Christians, reflecting New Jersey's diverse religious landscape. Among the regular visitors is Daniel Choi, a Princeton University professor who grew up in a Korean Christian church and now follows Tibetan Buddhism. He has been meditating in front of the Buddha statue since 2015 and describes it as a "public shrine" where people from various backgrounds come together.

The center also hosts interfaith gatherings and maintains a peace garden, tended to by a leader of the local Nepali community. Visitors often find themselves surrounded by colorful Tibetan prayer flags and an interfaith peace mural painted by local students.

"It's uniquely New Jersey," Choi said, noting the mix of people and the untraditional location of such a shrine. "You hear traffic, you hear people chatting, and yet, there's a sense of peace and connection here."

The New Jersey Buddhist Vihara follows Theravada Buddhism but welcomes all Buddhist traditions and other faiths. This inclusive approach has made it a beloved spot for curious tourists and passersby who come to sit in front of the statue, take in the moment, and soak in the vibe.

In a world where finding common ground can be challenging, this unexpected oasis in New Jersey offers a place for people of different faiths to come together, find peace, and connect.



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