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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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Mass Exodus Feared as Israeli Forces Order Full Evacuation of Gaza City

                                       'Packed' and ready to leave...again, a Palestinian in Gaza City

Gaza City was gripped by fear and uncertainty on Tuesday after the Israeli military issued its first full-scale evacuation order for the entire urban area, home to roughly one million Palestinians before the war. Leaflets were dropped from the air, warning residents to leave immediately for the designated “humanitarian zone” in Al-Mawasi, in southern Gaza.

Prime Minister Benjamin Netanyahu declared that the operation was “only the beginning” of a broader ground maneuver aimed at dismantling Hamas’ last strongholds. Defense Minister Israel Katz warned of a “mighty hurricane” if the group did not release the remaining hostages. The order comes amid reports that Israeli forces have already destroyed dozens of high-rise buildings in the city, which they accuse Hamas of using for military purposes.

For many residents, the directive sparked panic. Some vowed to stay, citing the lack of safe refuge, while others reluctantly prepared to flee yet again in a war that has already displaced most of Gaza’s 2.2 million people. Hospitals, including Al Shifa and Al Ahli, began emergency evacuation plans for patients, warning of a looming humanitarian catastrophe.

The escalation threatens to derail ongoing ceasefire negotiations, as mediators push for a deal to halt the nearly two-year conflict that has left vast swathes of Gaza in ruins and tens of thousands dead.


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