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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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Rising Norovirus Cases: What You Need to Know About the 'Winter Vomiting Bug

 

Norovirus, often referred to as the "winter vomiting bug," is causing concern as cases surge across North America. This highly contagious virus is responsible for a significant number of gastroenteritis outbreaks, leading to symptoms such as nausea, vomiting, diarrhea, stomach cramps, and sometimes fever.

Recent reports indicate that norovirus cases have spiked above the five-year average in several regions, including Canada, the U.S., and the U.K. Health officials attribute this rise to the colder weather and a return to pre-pandemic social behaviors, which have disrupted previous patterns of virus transmission.

To protect yourself and others, it's crucial to practice good hygiene. Wash your hands frequently with soap and warm water for at least 20 seconds, especially after using the restroom and before eating. Avoid close contact with those who are sick, and clean and disinfect frequently-touched surfaces regularly.

Remember, while norovirus can be unpleasant, it is usually short-lived, with most people recovering within a couple of days. Stay vigilant and take preventive measures to help curb the spread of this nasty bug.



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