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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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Erdogan Accuses Israel of Undermining Iran Nuclear Negotiations


Turkish President Recep Tayyip Erdogan has sharply criticized Israel for its recent military actions against Iran, claiming they were deliberately timed to derail upcoming nuclear negotiations between Tehran and the United States. Speaking at a meeting of the Organisation of Islamic Cooperation (OIC) in Istanbul, Erdogan argued that the strikes demonstrated Israel’s unwillingness to resolve regional tensions through diplomacy.

He urged nations with influence over Israel to resist what he described as its “poison” and instead support dialogue to prevent further escalation. Erdogan also called on Muslim-majority countries to intensify efforts to hold Israel accountable under international law and United Nations resolutions.

The comments come amid a backdrop of heightened conflict between Israel and Iran, with both sides exchanging missile strikes and diplomatic efforts in Geneva showing little progress. Erdogan’s remarks underscore Turkey’s positioning as a vocal advocate for diplomatic solutions in the Middle East.

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