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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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Tragedy in Gaza: UN Reports Mass Killing of Medics

 

The United Nations has reported a devastating incident in southern Gaza, where 15 Palestinian medics and emergency responders were killed by Israeli troops and buried in a mass grave. The medics, including workers from the Palestinian Red Crescent and Gaza’s Civil Defense, were reportedly on a mission to rescue casualties when they were struck down. Their vehicles were clearly marked as humanitarian, according to the Palestinian Red Crescent, which has accused Israeli forces of targeting them "in cold blood."

The Israeli military has stated that its troops fired on vehicles that approached them "suspiciously" without identification. However, the UN and other humanitarian organizations have raised concerns about the targeting of medical personnel, calling it one of the deadliest attacks on aid workers in recent years.

This tragic event has drawn international condemnation and highlighted the ongoing humanitarian crisis in Gaza, where medical and emergency teams often operate under life-threatening conditions. The incident underscores the urgent need for accountability and the protection of humanitarian workers in conflict zones.

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