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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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Powerful Earthquake Strikes Bangladesh, Leaving Casualties

Dhaka residents rushed out of their homes as buildings shook and some makeshift structures collapsed.

A strong earthquake shook Bangladesh early Friday, causing widespread panic and damage across several districts. Authorities confirmed that at least five people lost their lives, while around 100 others sustained injuries in the tremor.

The quake rattled buildings, forcing residents to rush outdoors in fear. Emergency services quickly mobilized to assist the injured and assess structural damage. Hospitals reported an influx of patients, many suffering from fractures and trauma.

Officials are monitoring aftershocks and urging residents to remain cautious. Rescue teams continue to search affected areas, while engineers are evaluating the safety of critical infrastructure.

This incident highlights the country’s vulnerability to seismic activity, underscoring the urgent need for improved disaster preparedness and resilient urban planning.


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