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U.S. Threatens Harsher Economic Pressure on Iran as Mediators Rush to Secure Second Ceasefire Talks

  A woman walks past a digital screen displaying news of US-Iran peace talks along a road in Islamabad on April 10, 2026 The United States has warned it will step up economic pressure on Iran while mediators race to arrange a second round of ceasefire talks before the fragile truce expires on April 22, 2026 — a standoff that risks higher oil prices, tighter global markets, and direct costs for Canadian households and investors.   Background and diplomatic timeline A two‑week ceasefire that paused nearly seven weeks of fighting was brokered to create a narrow diplomatic window for talks between Washington and Tehran. The first round of face‑to‑face negotiations in Islamabad lasted more than 20 hours but ended without an agreement, leaving the truce set to expire on April 22, 2026 unless mediators secure a follow‑up session.  Mediators led by Pakistan, with active roles from Turkey, Egypt and other regional actors, have been shuttling between capitals to bridge the remaini...
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Bank of Canada keeps interest rate at 5%, warns of future hikes

 

The Bank of Canada (BoC) announced on Wednesday that it is maintaining its key interest rate at 5% for the eighth consecutive time, citing the need to balance the risks of high inflation and a slowing economy.

The central bank said that inflation has been running above its 2% target for several months, mainly due to higher energy prices and supply chain disruptions. However, it also noted that the economy is facing headwinds from the Omicron variant of COVID-19, which has led to renewed public health measures and uncertainty.

The BoC said that it expects inflation to moderate in the second half of 2024, as the effects of transitory factors fade and the output gap closes. It also said that it will continue to monitor the evolution of the economy and the pandemic, and that it is prepared to raise interest rates further if needed to achieve its inflation objective.

The BoC’s decision was widely expected by analysts, who have been speculating on the timing of the next rate hike. Some believe that the BoC will raise rates as early as January, while others think that it will wait until April or later, depending on the impact of the Omicron variant on the economy.

The BoC’s key interest rate affects the cost of borrowing for consumers and businesses, as well as the value of the Canadian dollar. A higher interest rate tends to attract foreign investors, boosting the demand for the loonie. The Canadian dollar was trading at 79.32 US cents on Wednesday, up slightly from 79.25 US cents on Tuesday.


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