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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: July 10, 2025

 


IF TODAY IS YOUR BIRTHDAY

A full moon on your birthday means you will have to deal with people whose outlook on life is pointlessly negative. If you cannot get them to cheer up then you must put some distance between you. Don’t let your own smile fade for even a second.

Aries (March 21 - April 20):

If you give your family situation some serious thought today you should be able to come up with a solution to a problem that has been bothering you in recent weeks. Be warned though: the full moon could make loved ones rather emotional.

Taurus (April 21 - May 21):

Go your own way, do your own thing and ignore those who say you are moving too fast and heading for a fall. Even if they are right you would rather end up with a few bumps and bruises than play safe and bore yourself to tears.

Gemini(May 22 - June 21):

Act on what your instincts tell you today, even if friends and family members say you are doing it wrong. You know from long experience there is a deeper part of you that knows all the answers and that is the part which is now coming through.

Cancer (June 22 - July 23):

The message of the stars is that if you play to your strengths and focus only on your number one goal you will take great strides between now and the weekend. Ignore the naysayers who claim you are being too ambitious for your own good.

Leo (July 24 - Aug. 23):

Don’t waste your time trying to challenge someone who is clearly way above you in the power stakes. You may think you have more talent than they do, and you may be right, but now is not a good time to take them on.

Virgo (Aug. 24 - Sept. 23):

Your mind is working so fast at the moment that friends and colleagues will struggle to keep up with your ideas. It would be easy to get frustrated with them but pointless as well. Accept that they are human and have limits – as indeed do you!

Libra (Sept. 24 - Oct. 23):

Keep telling yourself that no matter how big some of your problems may be, in the greater scheme of things they are of little importance. Today’s full moon will highlight areas where you tend to be too hard on yourself. Lighten up a bit.

Scorpio (Oct. 24 - Nov. 22):

If you keep your eyes and ears open today you will see an opportunity that other people have missed. Once you realize you can use it to your advantage you really must do so. Don’t feel sorry for those who think and move too slowly.

Sagittarius (Nov. 23 - Dec. 21):

You must be on your guard today because the full moon warns that someone you work or do business with is aiming to make a profit at your expense. Don’t make it easy for them by being too easygoing in your attitude towards money.

Capricorn (Dec. 22 - Jan. 20):

There may be a dozen things you want to get done today but there is only one thing that MUST get done. The fact that you have been putting it off for weeks or even months makes it even more essential that you get on with it now!

Aquarius (Jan. 21 - Feb. 19):

A positive attitude is a must today. The full moon could make it hard for you to see how your efforts are making much of a difference but the fact is they are and if you force yourself to believe that you will make rapid progress.

Pisces (Feb. 20 - Mar. 20):

If you can’t seem to get your hands on what you want most from life do not despair. The current full moon is sure to place obstacles in your path but come the weekend the way ahead will be clear and your dream will be on again.


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