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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 lookahead horoscope: March 2

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

A Mercury-Neptune link on your birthday will encourage you to use your imagination more and find ways to profit from your ideas. Creative and artistic pursuits will go so well for you this year that you could end up with celebrity status.

ARIES (March 21 - April 20):

An offer of some kind may be tempting but if you are smart you will think about it in a lot more depth before making a decision that can’t be undone. With Venus in your sign turning retrograde as well, relationships must also be handled with care.

TAURUS (April 21 - May 21):

You don’t have to share your innermost thoughts and feelings with other people but it might help if you could be a bit more open with people you know you can trust. Only allow family members and really close friends access to your heart.

GEMINI (May 22 - June 21):

Your position in the world at large may be strong but the planets warn there is a danger you could be too trusting now when dealing with employers and senior colleagues. Only let them know what they need to know about your long-term ambitions.

CANCER (June 22 - July 23):

Before committing yourself to a new career path make sure you know what you are letting yourself in for. Your long-term prospects may be better served by putting your plans on hold for a while as major changes are about to alter the wider landscape.

LEO (July 24 - Aug. 23):

You may have no option over the next few days but to hurt a loved one’s feelings by being ruthlessly honest with them about their recent wrong choices. If you say what they want to hear now it could work out badly for them later in the year.

VIRGO (Aug. 24 - Sept. 23):

Make sure you get proper advice before committing yourself to a course of action that is going to require a large injection of cash. That nagging doubt you are experiencing is your subconscious mind trying to warn you that it may be a poor investment.

LIBRA (Sept. 24 - Oct. 23):

What should be an easy problem to solve is turning into one of those situations where you constantly go round and round in circles. Step back from what is going on and try to see it from a higher perspective. Maybe you’re not meant to make progress.

SCORPIO (Oct. 24 - Nov. 22):

It’s good to be forgiving but it would be foolish to let others get away with words and actions that don’t have to be tolerated. Over the next few days you must call out those whose selfishness could hurt your interests further down the line.

SAGITTARIUS (Nov. 23 - Dec. 21):

You have given so much of yourself in recent weeks that your physical and emotional energy has been badly depleted. Make it your No. 1 aim over the coming week to take more time for yourself. You don’t have to solve all the world’s problems.

CAPRICORN (Dec. 22 - Jan. 20):

The message of the stars for the coming week is that you need to focus on making life simpler on every level. A good way to start would be by stopping doing for friends and family members what they should be doing for themselves.

AQUARIUS (Jan. 21 - Feb. 19):

If someone refuses to join in with your plans it’s not because they want to be obstructive but because they have plans of their own. Be respectful of their wishes and let them know you can work together later when they have more spare time.

PISCES (Feb. 20 - Mar. 20):

Be extra careful when dealing with financial matters. As Venus turns retrograde in the money area of your chart there is a danger you could take too much on trust and end up making a serious loss. Avoid investments that carry a lot of risk.

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