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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 3

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Every so often over the coming year you must step back and away from what you are working on and reassess your long-term goals. Listen to what your inner voice is trying to tell you and never get too fixed in your objectives.

ARIES (March 21 - April 20):

You may be so excited by a new idea or project that you rush into it too fast and make some silly mistakes. Take your time today and make sure you can see two or maybe three steps ahead before making your first move.

TAURUS (April 21 - May 21):

Someone who is jealous of your popularity and wants to see you fail will set a trap for you today, so be on your guard and don’t take the kind of risks that could easily go wrong. You have nothing to prove, to them or to yourself.

GEMINI (May 22 - June 21):

If a partner or colleague hints that you are not working hard enough most likely it’s because they are hoping you will do something rash to prove them wrong. Don’t fall for it. You are on the right track and don’t need to change a single thing.

CANCER (June 22 - July 23):

Something you have been working on for ages will start to come good today and if you keep your overall goal in mind you are guaranteed to reach it before the end of the week. The universe will see to it that your efforts are well rewarded.

LEO (July 24 - Aug. 23):

Ignore those who say you lack discipline and keep following the path that feels right to you and at a speed that feels right to you. Life is not a race and you don’t have to be out in front every minute of every day, so pace yourself.

VIRGO (Aug. 24 - Sept. 23):

If you don’t stick up for yourself today no one else will either, so if what others are saying about you is unjustified you must let them and everyone else know what the truth is. Express yourself forcefully over the next 24 hours.

LIBRA (Sept. 24 - Oct. 23):

You need to remind yourself that words can harm as well as heal, because if you come on too strong today you could cause unnecessary damage to a friend’s or colleague’s ego – and give your enemies the ammunition they need to tarnish your reputation.

SCORPIO (Oct. 24 - Nov. 22):

Someone you expected to move in a particular direction will take the opposite route today and there won’t be much you can do about it. But why would you want them to change? Focus on your own journey and forget about everyone else.

SAGITTARIUS (Nov. 23 - Dec. 21):

If you go with the flow and refuse to be flustered by what is taking place in the world around you then most of the chaos and confusion will pass you by. Your unquenchable optimism will protect you from the constant flood of negativity.


CAPRICORN (Dec. 22 - Jan. 20):

How good an actor are you? If you are good enough to make others believe that what you are working on at the moment is of earth-shattering importance then you may even start to believe it yourself – and your performance could win you an Oscar!

AQUARIUS (Jan. 21 - Feb. 19):

Don’t worry too much if someone in a position of authority is less than sympathetic to your needs as the week begins. The bald fact is you have relied on them for too long and their indifference will spur you to do more for yourself.

PISCES (Feb. 20 - Mar. 20):

Although mind planet Mercury leaves your sign today you won’t suddenly lose the power of rational thought. You will certainly need to remind yourself that spending lots of money without knowing how you are going to replace it is not a good idea.

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