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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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Xi’s Strategic Trio: China, Russia, and India Signal a Shift in Global Power

 

                                            Putin, PM Modi and Xi Jinping at SCO Summit and Donald Trump.



At the 2025 Shanghai Cooperation Organization (SCO) summit in Tianjin, Chinese President Xi Jinping made a bold diplomatic statement by warmly engaging with Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. The rare display of camaraderie — including handshakes, shared laughter, and symbolic gestures — underscored Xi’s long-term vision of building an alternative to the US-led global order.

The summit, the largest in SCO history, brought together leaders from across Asia, the Middle East, and beyond, representing nearly half the world’s population. Beyond optics, the meeting produced tangible outcomes, including a major gas pipeline deal between China and Russia, signaling deepening economic ties.

For Modi, the gathering was an opportunity to demonstrate India’s strategic flexibility amid rising tensions with Washington over tariffs and trade policy. For Putin, it was a chance to reinforce Russia’s role as a central player in a multipolar world.

Analysts say the Xi-Putin-Modi alignment, while not without underlying tensions — particularly between India and China — sends a clear message: non-Western powers are increasingly willing to coordinate in shaping the rules of global governance. Whether this emerging bloc becomes a lasting geopolitical force will depend on how these leaders navigate their competing interests in the years ahead.


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