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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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Air Canada Restructures, Cuts 400 Management Jobs

                Air Canada cuts about 400 management jobs, says decision not related to flight attendants strike.

Air Canada has announced the elimination of roughly 400 management positions, representing about one per cent of its total workforce. The airline described the move as a “difficult decision” following an extensive internal review aimed at streamlining operations and improving efficiency.

The cuts affect non-unionized management roles and, according to the company, will not impact day-to-day flight operations or customer service. Air Canada emphasized that it regularly evaluates its resources to ensure they are aligned with business needs and long-term growth plans.

The announcement comes just weeks after the airline faced financial turbulence linked to a three-day strike by more than 10,000 flight attendants, which led to thousands of cancellations and significant losses. While Air Canada has stated the management cuts are not directly tied to the strike, the timing underscores the challenges the carrier faces in balancing cost control with service expansion.

Despite the reductions, Air Canada is moving forward with growth initiatives, including expanded service at Toronto’s Billy Bishop Airport, with new daily routes to Ottawa and Montreal set to launch in early 2026.


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