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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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Passover 2025: A Celebration of Freedom and Tradition

 

Passover, also known as Pesach, is a significant Jewish holiday that commemorates the liberation of the Israelites from slavery in ancient Egypt. In 2025, Passover begins at sundown on Saturday, April 12, and concludes at nightfall on Sunday, April 20.

This eight-day festival is rich in traditions and rituals. It starts with the Seder, a ceremonial meal held on the first two nights (or just the first night in Israel). The Seder includes storytelling, symbolic foods, and the recitation of prayers, all aimed at retelling the story of the Exodus. Throughout the holiday, leavened products are avoided, and matzah, an unleavened bread, is eaten to honor the haste with which the Israelites left Egypt.

Passover is not only a time for reflection and gratitude but also a celebration of freedom and resilience. It serves as a reminder of the enduring spirit of a people who overcame adversity to forge a new path.

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