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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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Russia Unleashes Largest Drone Attack on Ukraine Ahead of War's Third Anniversary

In a dramatic escalation of hostilities, Russia launched its largest drone attack on Ukraine since the onset of the war. Ukrainian President Volodymyr Zelenskiy reported that over 200 drones were deployed in an overnight assault, marking the most significant aerial offensive to date.

The Ukrainian air force successfully intercepted 138 of the drones, while another 119 were neutralized through electronic warfare measures. Despite these efforts, damage was reported across five regions, including Dnipropetrovsk, Odesa, Poltava, Kyiv, and Zaporizhzhia.

President Zelenskiy condemned the attack as "aerial terror" and called for unity among Ukraine's allies to secure a "just and lasting peace". He emphasized the need for international support, highlighting the strength of Europe, America, and all partners committed to peace.

The attack comes on the eve of the third anniversary of Russia's full-scale invasion of Ukraine, underscoring the ongoing intensity of the conflict. As the war continues, the resilience of the Ukrainian people and the solidarity of their allies remain crucial in the face of such unprecedented aggression.



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