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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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Tens of Thousands of Israeli Reservists Mobilized as Gaza City Offensive Nears

 

Displaced Palestinians take shelter in Gaza City where the Israeli forces are expected to escalate operations


Tens of thousands of Israeli reservists have begun reporting for duty as the military prepares for a major offensive in Gaza City, a move Prime Minister Benjamin Netanyahu has ordered to accelerate despite warnings from senior military officials.

According to Israeli Army Radio, around 40,000 reservists are joining the operation, with logistical preparations underway for their deployment. The planned assault aims to seize Gaza City — described by Israel as Hamas’ last stronghold — following months of intense fighting that has left much of the Gaza Strip in ruins. Israel currently controls about 75% of the territory.

The mobilization comes amid internal tensions, with military chief Lt. Gen. Eyal Zamir cautioning that the campaign could endanger hostages still held in Gaza and further strain the army’s resources. Some reservists have also voiced frustration over what they see as a lack of a clear post-war strategy.

Meanwhile, airstrikes across the enclave have intensified, killing at least 25 people on Tuesday, including 16 in Gaza City, according to local health authorities. Humanitarian agencies warn that a full-scale assault could trigger another wave of mass displacement and worsen already dire conditions for civilians trapped in the city.


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