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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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Ankara Talks Aim to Solidify Gaza Ceasefire and Reconstruction Plans

Foreign Minister Hakan Fidan will host his Egyptian counterpart Badr Abdelatty in Ankara on Wednesday.



The foreign ministers of Turkey and Egypt are set to meet in Ankara to discuss the fragile Gaza ceasefire and chart a path for post-war reconstruction. Turkish Foreign Minister Hakan Fidan will host his Egyptian counterpart, Badr Abdelatty, as both nations seek to strengthen international efforts to stabilize the enclave following years of devastating conflict.

During the talks, Fidan is expected to emphasize that despite ongoing Israeli violations, the Palestinian side has largely adhered to the ceasefire terms, managing the process constructively. Turkey, a NATO member, has been one of the most vocal critics of Israel’s military campaign in Gaza, describing it as genocide—a charge Israel denies. Alongside Egypt and Qatar, Turkey has played a central role in mediating the ceasefire and has pledged to monitor its strict implementation.

The ministers will also address the next phases of the U.S.-brokered ceasefire agreement, including mechanisms to ensure compliance and prevent renewed hostilities. A key focus will be on mobilizing global support for Gaza’s reconstruction, with Turkey reiterating its readiness to contribute resources and expertise to rebuilding critical infrastructure.

This meeting comes at a pivotal moment, as regional powers weigh how best to support Palestinians in rebuilding their shattered communities while maintaining pressure on Israel to honor ceasefire commitments. Both Ankara and Cairo view their cooperation as essential not only for Gaza’s recovery but also for broader regional stability.

By aligning diplomatic efforts, Turkey and Egypt hope to strengthen international consensus around Gaza’s future, ensuring that humanitarian aid, reconstruction, and political stability remain at the forefront of post-war planning.


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