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Missile Barrage Deepens Middle East Crisis as Iran Mocks Trump’s Strait Proposal

                                   Emergency personnel respond at a site following Iranian missile barrages in central Israel Iran unleashed multiple waves of missiles on Israel, intensifying a conflict already engulfing the Middle East. The strikes came just a day after U.S. President Donald Trump claimed “very good and productive” talks were underway to halt the war. Israeli officials, however, doubted Iran would accept U.S. terms, and Tehran insisted no negotiations had taken place.  Tehran openly ridiculed Trump’s suggestion that the U.S. and Iran could jointly control the Strait of Hormuz, posting an image of a child’s pink toy steering wheel on social media. The symbolic jab underscored Iran’s rejection of Washington’s overtures and highlighted the growing influence of the Islamic Revolutionary Guard Corps, whose former commander Mohammad Baqer Zolqadr was appointed to l...
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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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