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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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US to Repatriate Survivors of Caribbean Drug Vessel Strike to Ecuador and Colombia

                                            U.S. President Donald Trump     


The United States will return two survivors of a military strike on a suspected drug-carrying vessel in the Caribbean to their home countries of Ecuador and Colombia, President Donald Trump announced on Saturday.

The strike, carried out Thursday, targeted what Trump described as a “drug-carrying submarine” believed to be transporting fentanyl and other narcotics toward the United States. Two people were killed in the attack, while the surviving pair were rescued by U.S. forces and later transferred to a Navy ship for medical treatment.

Trump said the decision to repatriate the survivors avoids a prolonged legal battle in the U.S. and ensures they face detention and prosecution in their countries of origin. “Under my watch, the United States of America will not tolerate narcoterrorists trafficking illegal drugs, by land or by sea,” he declared in a social media post.

The incident marks at least the sixth U.S. strike on suspected narcotics vessels in the Caribbean since early September, underscoring the administration’s intensified campaign against drug cartels operating in the region.


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