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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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Your daily horoscope: January 14, 2025

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

If your current way of working does not seem to be taking you closer to your goals then ditch it completely and start over. New technologies such as artificial intelligence could help you immensely this year, IF you have the intelligence to use them wisely.

ARIES (March 21 - April 20):

There is a lot of pressure building up in your life at the moment but that’s okay because you thrive on being challenged. When the going gets tough Aries is the first sign to get tough in return and today will be no exception.

TAURUS (April 21 - May 21):

You may be in two minds about what direction you should be taking but what occurs over the next 24 hours will point the way and all you have to do is follow the lead that the universe gives you. Get past your doubts and get moving.

GEMINI (May 22 - June 21):

If you start something new today it will take up a lot more time and energy than you expected, so think about it carefully and make sure you will be able to commit yourself 100 per cent. Anything less is unlikely to work out well.

CANCER (June 22 - July 23):

If you know what’s good for you then you won’t hesitate to do what partners and colleagues expect of you today. Go along with their plans for the time being but leave some wriggle room so you can still change your mind later on.

LEO (July 24 - Aug. 23):

You have never been the sort to care what other people think about you, so ignore the critics and push ahead with your plans. It may seem as if the whole world is against you but that will change dramatically before the end of the month.

VIRGO (Aug. 24 - Sept. 23):

Try not to get dragged into a dispute that has nothing to do with you. Even if one side is clearly in the right and the other side is clearly in the wrong there is nothing to be gained, and plenty to be lost, from getting personally involved.

LIBRA (Sept. 24 - Oct. 23):

You are in one of those moods when you are so determined to succeed that you will allow nothing and no one to stand in your way. There is not the slightest doubt in your mind that you will reach your ultimate goal sooner rather than later.

SCORPIO (Oct. 24 - Nov. 22):

The truth is so important to you that you will refuse to say anything you know to be false or deceitful, even if it helps out a friend or a loved one. As one of the zodiac’s fixed signs you always put principle above personal feelings.

SAGITTARIUS (Nov. 23 - Dec. 21):

What occurs over the next 24 hours may seem strange on a logical level but on this occasion you must listen to what your intuition tells you. Sometimes you have to ignore the facts and act on faith, and this appears to be one of those times.

CAPRICORN (Dec. 22 - Jan. 20):

You may not care if you are on the winning or losing side of whatever game it is you are currently playing but some people are taking things more seriously and they won’t be happy if they think you are not making a serious effort.

AQUARIUS (Jan. 21 - Feb. 19):

Half-hearted efforts won’t get you from where you are now to where you most want to be, so make a solemn promise that you will give everything, physically, mentally and emotionally, over the next few days. It will be a sacrifice worth making.

PISCES (Feb. 20 - Mar. 20):

You may have doubts about your own abilities but others expect great things of you and if you put on a confident act today you may surprise yourself by how much you accomplish. After that, you will be expected to accomplish even more.

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