Skip to main content

Featured

Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC

  Canadian Money Brief  |  November 11, 2026 Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC By the MoneySavings.ca team  •  6 min read The Bank of Canada raised its key rate on October 28, the first increase since 2023. Yesterday it signalled it may not be done. The summary of deliberations, released Tuesday, says Governing Council agreed there could be a need to raise the policy rate further, while taking decisions one meeting at a time. If you carry a variable-rate mortgage or a home equity line of credit (HELOC), that is a headline worth a few minutes. Here is what the Bank said, what another hike would cost, and what you can do before the next decision on December 9 . 2.50% Policy rate since Oct 28 4.70% Big-bank prime since Oct 29 3.5% BoC CPI forecast, end of 2026 Dec 9 Next rate decision What the Bank actually said The core of the story is energy. The Bank notes that the war in the Middle East is in its eig...
Post a Comment
Read more

article

Labels

The History of Leap Years


The concept of leap years has a fascinating history that dates back thousands of years. Let’s explore how they came about:

  1. Ancient Calendars and Extra Time:

    • During the Bronze Age (around 3300-1200 BC), various civilizations used calendars that added extra periods of time based on the year.
    • These early calendars recognized that the true duration of a year is approximately 365.25 days, not the commonly recognized 365 days.

  2. Julius Caesar and the Julian Calendar:

    • In 45 B.C., Julius Caesar, the Ancient Roman emperor, introduced the Julian calendar.
    • The Julian calendar consisted of 365 days divided into the 12 months we still use in the modern Gregorian calendar.

  3. Leap Years Take Shape:

    • The leap year as we know it today began to take form under Julius Caesar’s rule.
    • To account for the discrepancy between the calendar year and the solar (tropical) year (the time Earth takes to orbit the Sun once), an extra day was added every four years.

  4. The “Leap” in Leap Years:

    • The name “leap” comes from the fact that, starting from March onward, each date of a leap year moves forward by an extra day compared to the previous year.
    • For example, March 1, 2023, was a Wednesday, but in 2024, it falls on a Friday. Normally, the same date only moves forward by a single day between consecutive years.

  5. Beyond the Gregorian Calendar:

    • While the Gregorian calendar is the most widely used, other calendars also have versions of leap years.
    • The Hebrew, Islamic, Chinese, and Ethiopian calendars incorporate leap years, but their patterns differ from the Gregorian system.

  6. Leap Seconds and the Future:

    • In addition to leap years, the Gregorian calendar occasionally includes leap seconds (most recently in 2012, 2015, and 2016).
    • However, the International Bureau of Weights and Measures (IBWM) plans to abolish leap seconds from 2035 onward.

  7. Why We Need Leap Years:

    • A calendar year is exactly 365 days long, while a solar year is roughly 365.24 days (365 days, 5 hours, 48 minutes, and 56 seconds).
    • Without leap years, the gap between the start of a calendar year and a solar year would widen over time, affecting the timing of seasons.
    • For instance, if we stopped using leap years, the Northern Hemisphere’s summer would eventually begin in December instead of June.

In summary, leap years play a crucial role in keeping our calendars aligned with astronomical cycles. So, when you enjoy that extra day in February, remember the ancient origins and the intricate dance between Earth and the Sun! 



Labels:

Comments

Post a Comment