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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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Ceasefire Talks in Cairo Amid Intensifying Gaza Strikes

 

Palestinians seek aid supplies from trucks that entered Gaza through Israel, in Beit Lahia, in the northern Gaza Strip.


Israeli Prime Minister Benjamin Netanyahu has reiterated that Palestinians in Gaza will be “allowed to exit” the enclave, as militant group Hamas engages in ceasefire negotiations with Egyptian mediators in Cairo. The talks, led by Hamas chief negotiator Khalil Al-Hayya, aim to halt the nearly two-year conflict, secure humanitarian aid, and address governance in Gaza.

While discussions continue, Israeli forces have intensified air and ground assaults on Gaza City, particularly in the Zeitoun and Shejaia neighborhoods, resulting in multiple civilian casualties. The proposed ceasefire framework reportedly includes the possibility of Hamas relinquishing control of Gaza and disarming, though Hamas insists it will not lay down arms before an Israeli withdrawal.

International concern over the humanitarian crisis is mounting, with foreign ministers from 24 countries urging Israel to allow unrestricted aid into Gaza. Israel maintains it is facilitating deliveries, citing hundreds of aid trucks entering daily, while accusing Hamas of diverting supplies.

The outcome of the Cairo talks remains uncertain, but the stakes are high as both the violence and humanitarian toll escalate.

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