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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: April 16, 2025

 


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You need to step out of the shadows and remind people who you are and what you are capable of. Having taken a back seat for so long you may now be a bit of an unknown quantity, which can be made to work in your favour.

ARIES (March 21 - April 20):

You may honestly believe that nothing is beyond you right now but don’t get carried away. As communications planet Mercury moves back into your sign today you could easily say too much, too loudly and come to regret it later on.

TAURUS (April 21 - May 21):

If friends and colleagues oppose you at every turn maybe you should take that as a sign they do not approve of what you are doing. So should you stop what you are doing? No, you should do it even more. You are right and they are wrong.

GEMINI (May 22 - June 21):

Your energy levels, both physical and mental, are on the rise and if you are smart you will use those energies to further your long-term ambitions. What can you say and do to win people in positions of power round to your way of thinking?

CANCER (June 22 - July 23):

You may have no choice but to bang a few heads together over the next 24 hours. Cosmic activity in the career area of your chart will make it easy for you to encourage colleagues to raise their game, for their benefit as well as your own.

LEO (July 24 - Aug. 23):

If you say something controversial for the fun of it today you may find later on that you have stirred up a hornet’s nest of disapproval. You know the old saying: if you can’t say something nice then say nothing at all.

VIRGO (Aug. 24 - Sept. 23):

The sun moves into the most dynamic area of your chart at the weekend and between now and then you must steer clear of controversy both in your private life and in your work. Why make a target of yourself when you don’t have to?

LIBRA (Sept. 24 - Oct. 23):

What happens next will be the culmination of all you have been working toward over the past few months. It may seem as if you have not made as much progress as you were hoping but you are wrong – you have come a very long way indeed.

SCORPIO (Oct. 24 - Nov. 22):

Why take risks that are potentially harmful not only to other people’s interests but to your own as well? You need to be aware that your rivals are waiting for you to say or do something they can take advantage of. Don’t make it easy for them.

SAGITTARIUS (Nov. 23 - Dec. 21):

As mind planet Mercury moves into the most powerful area of your chart today you may be of the opinion that you can get away with just about anything but deep down you know that isn’t true. Think logically and keep your wits about you.

CAPRICORN (Dec. 22 - Jan. 20):

You may be tempted to voice your opinions about what has been going on in your neighbourhood of late but the planets suggest that may not be a good idea. If others want to behave irresponsibly just let them. It’s their problem, not yours.

AQUARIUS (Jan. 21 - Feb. 19):

If you have time on your hands today you could do worse than use it to go somewhere different, if possible to some place that is far away from your usual haunts and hangouts. You need to get away from people who cramp your style.

PISCES (Feb. 20 - Mar. 20):

It is of the utmost importance that you know what you are letting yourself in for before committing yourself to a project that is going to take up a great deal of your time. It may look exciting now but what might the costs be later on?

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