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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 17, 2025

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

A sun-Neptune link on your birthday will do wonders for your creative powers. Find ways to use them in the world at large and your name will soon be up in lights. Don’t pretend you don’t want to be famous – deep down you want nothing more!

ARIES (March 21 - April 20):

Anyone who tries to force you in a direction you don’t want to go today will quickly learn they have made a big mistake. You are in no mood to take nonsense from people you do not respect – or even from people you do!

TAURUS (April 21 - May 21):

Go your own way and do your own thing and don’t worry that some people may think you have taken leave of your senses. They cannot know what is in your mind and in your heart, so accept they don’t “get it” and carry on as before.

GEMINI (May 22 - June 21):

The desire to free yourself of restrictions is overwhelming and you will make every effort to break the bonds that are holding you back. Some of those bonds though are of your own making, so the biggest changes must come from within.

CANCER (June 22 - July 23):

If you feel the need to get involved in a dispute of some kind then so be it, but you must be sensible. If you storm in and start telling people how and why they must change their ways then both sides could gang up on you.

LEO (July 24 - Aug. 23):

By all means be more adventurous on the work front and try out new methods and routines, but don’t be surprised if a few days from now you have to change things back to how they were before. Sometimes it is better to just let things be.

VIRGO (Aug. 24 - Sept. 23):

No matter how many obstacles you have to deal with today you will overcome each and every one of them with ease. In fact the less effort you make, physically and mentally, the easier you will find it to get in the groove and make the right choices.

LIBRA (Sept. 24 - Oct. 23):

A major upheaval is about to take place and the good news is it will benefit you in numerous ways. When the sun moves into the most dynamic area of your chart at the weekend previous issues will seem trivial compared to what is starting to look possible.

SCORPIO (Oct. 24 - Nov. 22):

A friend wants to repay you for advice you gave them recently that changed their life for the better. It may have been no big deal as far as you are concerned but to them it is, so happily accept what they offer to do for you now.

SAGITTARIUS (Nov. 23 - Dec. 21):

If others know what is good for them they won’t attempt to oppose you when you go after something you believe should be yours. As one of the zodiac’s fire signs you can be a bit of a dragon when it comes to getting your own way!


CAPRICORN (Dec. 22 - Jan. 20):

Some people are so stubborn that they would rather mess things up completely than admit they got it wrong. One such individual will put your patience to the test today. Don’t get angry but do make it clear you don’t think much of their intelligence.

AQUARIUS (Jan. 21 - Feb. 19):

If you listen to other people’s tales of woe then your own mood will take a dive as well. The sun’s move into your sign at the weekend heralds a new start for you personally and the last thing you need is to wallow in fear and doubt.

PISCES (Feb. 20 - Mar. 20):

If you need to make an important decision concerning a friendship or a group activity then make it today because you will soon have matters of a more personal nature to deal with. If in doubt, make a clean and final break with the past.

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