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Slovakia Warns of Power Cut to Ukraine Amid Dispute Over Russian Oil Transit

                                                       Slovakia's Prime Minister Robert Fico A diplomatic rift has emerged between Slovakia and Ukraine after Bratislava warned it may halt electricity exports to its eastern neighbor unless Kyiv resumes the flow of Russian oil through the Druzhba pipeline. The dispute centers on transit fees and operational conditions that Ukraine oversees as the pipeline crosses its territory. Slovakia, heavily dependent on Russian crude for its key refinery in Bratislava, argues that any disruption threatens its energy security and economy. Ukrainian officials, however, maintain that their actions comply with existing regulations and reflect broader efforts to reduce reliance on Russian energy amid the ongoing conflict. The standoff highlights the fragile interdependence of Central and Ea...
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Bank of Canada Considered Waiting Until July to Cut Rates

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Bank of Canada officials recently discussed whether to delay interest rate cuts until July. Their primary concern was confirming that inflation remains on track to reach the central bank’s 2% target. Ultimately, the governing council decided to cut the policy rate to 4.75% at their June 5 meeting. This move followed four consecutive months of slowing underlying price pressures, which they deemed sufficient progress to warrant the rate reduction.

While policymakers acknowledged the possibility of further rate cuts if inflation continues to ease, they emphasized a gradual approach. The bank’s dependence on data was evident, as they considered waiting until July before making a decision. Additionally, they discussed the potential divergence of Canada’s interest rate path from that of the US, noting that expectations of different policy outlooks could impact the exchange rate.

In summary, the Bank of Canada’s decision reflects a delicate balance between economic indicators and the need for cautious monetary policy adjustments. As they continue to monitor inflation and economic growth, future rate cuts will depend on further disinflation momentum and evolving market conditions.

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