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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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Kremlin Criticizes U.S.-Proposed Ceasefire as Favoring Ukraine

A senior Kremlin official has expressed skepticism over a U.S.-proposed 30-day ceasefire in the ongoing conflict between Russia and Ukraine. Yuri Ushakov, a top foreign policy aide to Russian President Vladimir Putin, stated that the ceasefire would merely provide a temporary respite for Ukraine's military forces. Speaking to state television, Ushakov emphasized that Russia seeks a long-term peaceful settlement that addresses its strategic concerns and interests.

The proposal, endorsed by Ukraine, has been presented as a step toward de-escalating the three-year conflict. However, Ushakov criticized the initiative, suggesting it could be a tactical move to bolster Ukraine's military preparedness. The Kremlin has indicated that it requires more detailed information from the U.S. before taking a definitive stance on the matter.

The ceasefire proposal comes amid intensified diplomatic efforts by the U.S., with President Donald Trump urging both sides to consider the plan as a pathway to broader peace negotiations. While Ukraine has signaled its willingness to support the truce, Russia's response remains uncertain, with officials reiterating their focus on achieving a comprehensive and lasting resolution to the conflict.

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