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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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European Diplomats to Meet Iranian Counterpart in Geneva Amid Rising Tensions


Foreign ministers from Germany, France, and the United Kingdom are set to hold high-stakes nuclear talks with Iran on Friday in Geneva, according to diplomatic sources. The meeting, which will also include the European Union’s top diplomat Kaja Kallas, comes at a time of heightened instability in the Middle East following recent military escalations between Israel and Iran.

The European delegation aims to persuade Iran to commit to using its nuclear program solely for civilian purposes. Talks are expected to be followed by a structured expert-level dialogue, coordinated with the United States.

Iranian Foreign Minister Abbas Araghchi confirmed his attendance, stating, “We will meet with the European delegation in Geneva on Friday,” as reported by state media. The discussions are seen as a renewed diplomatic push to prevent further escalation and revive elements of the 2015 nuclear agreement, which has unraveled in recent years.

The backdrop to these talks includes Israel’s recent airstrikes on Iranian targets and Tehran’s retaliatory missile launches. European leaders have called for de-escalation and are positioning diplomacy as the only viable path forward. 

The outcome of Friday’s meeting could prove pivotal in shaping the next phase of international engagement with Iran’s nuclear ambitions.

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