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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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Wingtip Wreck: Delta Jets Collide on LaGuardia Taxiway

 


Two Delta Air Lines regional jets were involved in a low-speed collision late Wednesday night on a taxiway at New York’s LaGuardia Airport, prompting an investigation by federal authorities. The incident occurred at 9:58 p.m. when the wing of a departing CRJ-900 jet bound for Roanoke, Virginia, struck the nose and cockpit window of an arriving jet from Charlotte, North Carolina.

Both aircraft were operated by Endeavor Air, a Delta subsidiary. One flight attendant sustained minor injuries and was taken to a hospital as a precaution. No passengers were hurt, and all 85 onboard were safely deplaned and transported to the terminal by bus.

Air traffic control had instructed the departing flight to yield at the intersection of taxiways M and A, but the collision still occurred. The National Transportation Safety Board (NTSB) has dispatched a team of investigators and recovered flight recorders from both jets for analysis.

Despite the dramatic nature of the crash—described by one passenger as “inevitable” after seeing the other plane approach—the incident did not disrupt airport operations. Delta has apologized and pledged full cooperation with authorities to determine the cause.

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