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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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Vuelta Chaos Sparks Spanish PM’s Call to Ban Israel from International Sport

Protesters block the road in an attempt to disrupt the twenty-first stage of the Spanish cycling race La Vuelta, on Sunday.

Spanish Prime Minister Pedro Sánchez has urged global sports bodies to bar Israel from international competitions, following chaotic scenes at the final stage of the Vuelta a España in Madrid. Pro-Palestinian activists disrupted the race, opposing the participation of the Israeli team Israel Premier Tech, throwing barriers onto the course and clashing with police. The unrest left 22 people injured and led to two arrests.

Sánchez compared Israel’s military campaign in Gaza to Russia’s invasion of Ukraine, arguing that both nations should face the same sporting sanctions until what he called “the barbarity” ends. His remarks drew a sharp rebuke from Israeli Foreign Minister Gideon Saar, who labelled him “an antisemite and a liar” and accused him of encouraging the protests.

The Spanish government had already expressed sympathy for the demonstrators, suggesting the Israeli team should have withdrawn from the three-week race. Despite removing its name from uniforms, the team completed the event, which was ultimately won by Denmark’s Jonas Vingegaard.

The incident has intensified diplomatic tensions between Spain and Israel, while also raising questions about the future of major sporting events in Spain involving Israeli teams.


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