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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: March 13, 2025

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

There is no point trying to work with people whose outlook on life is completely opposed to your own. The message of your birthday chart this year is that you will travel faster and further if you travel alone. Don’t let anyone hold you back.

ARIES (March 21 - April 20):

Try not to take what happens over the next two days seriously. It may seem like there is chaos and confusion in every direction but only because so many people are running around like headless chickens. If you know what you want you’ll be okay.

TAURUS (April 21 - May 21):

You may think you can handle a difficult task on your own but the approaching lunar eclipse means you could find yourself overwhelmed if you try. There are plenty of people who are willing to assist you, but you’ve got to ask them first!

GEMINI (May 22 - June 21):

This could be an emotional few days for you Gemini and events on the home front are likely to be challenging. Keep telling yourself that it will all come right in the end and make sure loved ones can see you are still in control.

CANCER (June 22 - July 23):

Keep what is going on in the world around you in perspective. Tomorrow’s eclipse could bring a nasty shock, or two, or three, your way but if you stand back and look at events logically you will see there is nothing to get worked up about.

LEO (July 24 - Aug. 23):

Although tomorrow’s lunar eclipse takes place in the financial area of your chart there is no evidence to suggest that others will be trying to cheat you. Having said which, it won’t do any harm to keep one hand on your wallet at all times!

VIRGO (Aug. 24 - Sept. 23):

A crisis of confidence is likely over the next two or three days, so keep telling yourself that you are still on the right track and still heading for success. It may take longer than expected to reach your objective but you’ll get there in the end.

LIBRA (Sept. 24 - Oct. 23):

Stop looking over your shoulder and start looking at what is in front of you. Those secret enemies you seem to believe are stalking you are just phantoms of your hyperactive imagination, so banish them from your mind once and for all.

SCORPIO (Oct. 24 - Nov. 22):

Do you really care how other people will respond to what you say and do? Of course you don’t, so why are you wasting precious time trying to second guess how they might react? Focus on your No. 1 goal and ignore everything else.

SAGITTARIUS (Nov. 23 - Dec. 21):

Tomorrow’s lunar eclipse in the career area of your chart is going to make some kind of setback look ten times worse than it really is, so promise yourself now that you will stay calm and carry on as usual. Nothing and no one can hurt you.

CAPRICORN (Dec. 22 - Jan. 20):

You need to accept that some people are determined to look on the dark side of life and that nothing you say or do is going to change their outlook. Put some distance between you so there is no chance their negativity might rub off on you.

AQUARIUS (Jan. 21 - Feb. 19):

You may be tempted to back off from what you are working on and wait for the cosmic climate to move in your favour but that would be a mistake. You have what it takes to overcome any and all challenges, so double your efforts.

PISCES (Feb. 20 - Mar. 20):

Relationships could get a bit tricky over the next few days, so promise yourself that no matter what loved ones might say you won’t overreact and make things worse than they need to be. Smile serenely and pretend that nothing bothers you in the slightest.

 

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