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Tehran in Turmoil as Residents Flee Following Trump’s Urgent Warning

The streets of Tehran are rapidly emptying as residents heed an urgent warning from U.S. President Donald Trump, who called for the immediate evacuation  of the Iranian capital amid escalating tensions between Iran and Israel.  Trump’s statement, posted on his Truth Social platform, emphasized that “Iran cannot have a nuclear weapon” and urged the city’s nearly 10 million residents to leave before it was “too late”. His remarks came as Israel intensified its airstrikes on Tehran, targeting key infrastructure and military sites.  Reports indicate that major roads leading out of Tehran are clogged with traffic, as families scramble to find safety. The city’s historic Grand Bazaar has shut down, an unusual move that underscores the severity of the situation. Meanwhile, Iranian authorities insist that “everything is under control” , though no official evacuation order has been issued.  The international community is closely monitoring the crisis, with leaders of the Gro...
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BoC unlikely to cut rates soon despite easing inflatio

The Bank of Canada (BoC) is set to announce its interest rate decision on Wednesday, and most analysts expect no change from the current 5 per cent level. The bank has been on hold since July, 2023, after raising rates ten times in 2022 and early 2023 to curb inflation.

Inflation has fallen significantly since then, dropping to 2.9 per cent in January, within the bank’s 1-per-cent to 3-per-cent target range. However, the bank is not in a hurry to lower rates, as it wants to see more evidence of downward pressure on core inflation, which excludes volatile items. The bank also wants to avoid stimulating the housing market, which is showing signs of recovery after a slump.

Some economists think the bank could start cutting rates as early as April, after the recent positive inflation data. However, others believe the bank will wait until June or later, as it monitors the impact of the U.S. economic boom on Canadian exports and the effect of high mortgage costs on shelter inflation.

The bank is also expected to provide some guidance on the end of its quantitative tightening (QT) program, which reduces the size of its balance sheet. The bank said last year that it expected to end QT in late 2024 or early 2025, but some market participants speculate that it could happen sooner, as short-term lending markets have shown signs of strain.

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