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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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Massive Drone and Missile Barrage Strikes Western Ukraine, Civilian Factory Hit

 

                                          Ukraine officials say this factory was hit by a Russian missile strike. 


In one of the largest aerial assaults of the year, Russia launched 574 drones and 40 missiles overnight, striking multiple targets across Ukraine’s western regions. Ukrainian officials confirmed at least one death and over a dozen injuries, with the city of Mukachevo suffering significant damage after a missile hit a major American-owned electronics manufacturer producing household appliances.

President Volodymyr Zelenskyy condemned the attack as a deliberate strike on civilian infrastructure, calling for stronger international sanctions and tariffs against Moscow. The Ukrainian Air Force reported intercepting the majority of incoming drones and missiles, but several still reached their targets, damaging energy facilities and residential areas.

Western Ukraine, far from the front lines, has been a key hub for receiving and storing military aid from Kyiv’s allies. Analysts say the scale and location of this strike may signal a shift in Russia’s strategy toward targeting critical infrastructure and foreign investments deep inside Ukrainian territory.

The assault comes amid renewed diplomatic efforts by the United States and European leaders to broker peace, though Kyiv accuses Moscow of showing no genuine intent to negotiate.

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