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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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Hamas Releases Final Hostage in Latest Exchange with Israel

In a significant development, Hamas has released the sixth and final Israeli hostage as part of the latest exchange agreement with Israel. The release took place on Saturday, marking the end of the first phase of the ceasefire deal between the two adversaries.

The final hostage, Hisham Al-Sayed, a 36-year-old Bedouin Israeli with a history of mental health issues, had crossed into Gaza on his own in 2015 and had been held since. His release follows the earlier release of five other hostages, including three Israeli men who were abducted from the Nova music festival during the October 7, 2023, attack by Hamas.

The exchange has been overshadowed by heightened tensions between the two sides. The ceasefire deal, which has paused over 15 months of conflict, is nearing the end of its first phase. Negotiations for a second phase, which would involve the release of dozens more hostages in exchange for a lasting ceasefire and an Israeli withdrawal, are expected to be even more challenging.

The release of the hostages was conducted in staged ceremonies, which have been condemned by both Israel and the Red Cross in the past. Despite the tensions, the exchange has brought a glimmer of hope for the families of the hostages and the possibility of a more stable ceasefire in the future.



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