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Bank of Canada Holds the Line as Global Turmoil Clouds Outlook

  Bank of Canada Governor Tiff Macklem takes part in a press conference in Ottawa on September 17, 2025 The Bank of Canada has opted to keep its key interest rate steady at 2.25%, a decision that reflects the delicate balancing act policymakers face as global uncertainty intensifies. With inflationary pressures rising and economic growth showing signs of strain, the central bank is navigating a narrow path shaped by forces largely outside its control. A major driver of the current tension is the surge in oil prices triggered by ongoing geopolitical conflict. Higher energy costs are feeding into broader inflation, raising concerns that price pressures could become more persistent. At the same time, elevated borrowing costs and weakening consumer confidence are weighing on domestic economic momentum. By holding the rate, the Bank of Canada signals caution: it aims to avoid stifling growth while still keeping inflation expectations anchored. The central bank emphasized that it rema...
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Intense Clashes in Gaza as Israeli Forces Target North and South

 

In a recent escalation of violence, Israeli forces have launched strikes across Gaza, with residents reporting fierce fighting in Rafah, a city in the southern part of the Palestinian enclave. The Tel Al-Sultan neighborhood in western Rafah has become a battleground, where tanks are attempting to advance north amid heavy clashes. The armed wings of Hamas and the Islamic Jihad have responded by attacking Israeli forces with anti-tank rockets and mortar bombs.

Since early May, the focus of ground fighting has been on Rafah, where approximately half of Gaza’s 2.3 million people sought shelter after fleeing other areas. However, most have had to flee again due to the ongoing conflict. Medics reported two Palestinian fatalities from an Israeli missile strike in Rafah. Meanwhile, in the northern Gaza town of Beit Lahiya, an Israeli airstrike destroyed a house, resulting in the deaths of four Palestinians and injuries to several others.

The situation remains dire, with international mediation efforts failing to yield a ceasefire agreement. While Hamas insists on an end to the war and full Israeli withdrawal from Gaza, Israel is only willing to accept temporary pauses in fighting until Hamas is eradicated. Amidst the conflict, Palestinians in northern Gaza face severe food shortages and soaring prices, with thousands of children suffering from malnutrition.

As the violence continues, civilians bear the brunt of the devastating impact, and hopes for a peaceful resolution remain elusive.


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