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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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Ford Calls for Early Election Amidst Political Turmoil


Ontario Premier Doug Ford is set to request the dissolution of the provincial parliament today, triggering an early election scheduled for February 27. Ford's office announced that he will visit Lt.-Gov. Edith Dumont this afternoon to end the legislature's 43rd parliament. Ford has stated that he needs a new mandate from the electorate to address issues related to U.S. President Donald Trump.

Opposition leaders, including NDP Leader Marit Stiles, Liberal Leader Bonnie Crombie, and Green Party Leader Mike Schreiner, have criticized the decision, calling it a waste of time and money. Despite the controversy, Ford plans to continue his duties as premier, including a visit to Washington, D.C., in February with other premiers, while also campaigning as the leader of the Progressive Conservatives.

The early election call comes amidst a backdrop of political and economic challenges, with Ford seeking to solidify his position and address pressing issues facing the province.

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