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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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Washington Signals G20 Boycott Amid Trump’s Remarks

           
                                              President Donald Trump

The United States will not participate in the upcoming G20 summit in South Africa, according to comments made by President Donald Trump. The announcement marks a significant diplomatic shift, as the G20 is traditionally a forum for major economies to coordinate on global issues ranging from trade to climate change.

Trump’s statement has raised questions about Washington’s commitment to multilateral cooperation and could strain relations with other member nations. Analysts suggest the boycott may reflect broader tensions over international policy priorities and the administration’s stance on global governance.

South Africa, as host nation, has yet to issue a formal response, but observers note the absence of the U.S. could diminish the weight of discussions at the summit. The move underscores the evolving dynamics of international diplomacy and the challenges facing global consensus-building.


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