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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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Miami Talks Between Trump Envoys and Russian Ally Raise Alarm Over Ukraine Peace Plan

Head of the Russian Direct Investment Fund and Russian special presidential envoy for economic cooperation with foreign countries, Kirill Dmitriev, talks to US President Donald Trump's special envoy Steve Witkoff.

A recent meeting in Miami between Trump administration envoys and Russian official Kirill Dmitriev has sparked widespread concern in Washington and beyond. Dmitriev, head of Russia’s sovereign wealth fund and a close ally of President Vladimir Putin, is currently under U.S. sanctions. Despite this, he was granted a special waiver to attend talks with Trump’s envoy Steve Witkoff and Jared Kushner, the president’s son-in-law.

The discussions reportedly centered on drafting a 28-point peace proposal aimed at ending the war in Ukraine. The plan is said to cover themes such as security guarantees, European stability, and the future of U.S. relations with both Kyiv and Moscow. However, details remain unclear, particularly regarding contentious issues like territorial control in eastern Ukraine.

U.S. lawmakers have voiced alarm over the meeting, questioning both the legality and the implications of negotiating with a sanctioned Russian figure. Critics argue that the talks risk undermining existing U.S. policy and could embolden Moscow. Ukrainian President Volodymyr Zelensky has described the current moment as one of the most difficult in his nation’s history, while Putin has suggested the U.S. proposal could serve as a basis for settlement.

The Miami meeting underscores the high-stakes diplomacy unfolding behind closed doors, raising questions about transparency, U.S. foreign policy direction, and the potential impact on Ukraine’s sovereignty. As scrutiny intensifies, the proposal’s future remains uncertain, with both allies and adversaries watching closely.


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