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Canada’s Housing Market Faces Headwinds Despite BoC Moves

The Bank of Canada’s 25-basis-point cut in September was at best ignored by the national market, with sales falling 1.7 per cent compared to the month before. The Bank of Canada’s recent interest rate adjustments have done little to revive the country’s housing market, which continues to struggle under the weight of broader economic concerns. In September, the central bank cut its policy rate by 25 basis points, bringing it to 2.5%. Yet, instead of sparking renewed activity, national home sales actually fell by 1.7% compared to the previous month.  Economists note that the housing market is no longer moving in lockstep with monetary policy, but is instead being shaped by regional affordability challenges, consumer psychology, and—most critically—job security fears. Uncertainty surrounding U.S. trade policy has also cast a shadow over Canada’s economic outlook. Businesses remain hesitant to invest, and households are wary of making major financial commitments such as home purchas...
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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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