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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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Israeli Forces Claim Control of 40% of Gaza City, Signal Intensified Offensive Ahead

 

Smoke rises after an explosion in Gaza, as seen from the Israeli side of the border, September 4, 2025

 

The Israeli military announced on Thursday that it now controls approximately 40 percent of Gaza City, the largest urban center in the Palestinian territory, and intends to expand its operations in the coming days.

Brigadier General Effie Defrin, a military spokesperson, stated that the campaign will “continue to expand and intensify” with the goal of increasing pressure on Hamas “until it is defeated”. The announcement comes amid mounting international condemnation over Israel’s ongoing offensive, which has already displaced large portions of Gaza’s population and worsened an already dire humanitarian crisis.

According to Gaza’s civil defence agency, Israeli strikes on Thursday killed more than 30 people in Gaza City, contributing to at least 64 fatalities across the Gaza Strip that day. The United Nations has warned of famine conditions in and around the city, where nearly one million people remain trapped.

Despite calls from humanitarian organizations and some governments to halt the campaign, Israeli officials have indicated that the next phase of the operation could push an estimated one million Palestinians further south, away from the embattled city.


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