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Gaza Truce and Hostage Deal Faces Last-Minute Crisis

  In a dramatic turn of events, Israeli Prime Minister Benjamin Netanyahu announced that a last-minute crisis with Hamas is delaying the approval of a highly anticipated ceasefire and hostage release agreement. The deal, which was set to be approved by the Israeli Cabinet, has been put on hold as Netanyahu accused Hamas of reneging on parts of the agreement in an attempt to gain further concessions. The ceasefire, brokered by U.S. President Joe Biden and key mediator Qatar, was expected to bring a temporary halt to the 15-month conflict in the Gaza Strip and facilitate the release of dozens of hostages held by Hamas. However, Netanyahu's office stated that the Cabinet would not convene to approve the agreement until Hamas backs down from its new demands. Hamas, on the other hand, has denied the allegations, with senior official Izzat al-Rishq asserting that the militant group remains committed to the ceasefire agreement. The delay has raised concerns about the implementation of the...
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Bank of Canada Poised for Another Rate Cut Amid Easing Inflation

The Bank of Canada is widely expected to cut its key interest rate again this Wednesday, following recent data indicating a continued easing of inflation. This anticipated move comes after the central bank already reduced its policy rate by 25 basis points to 4.75% last month.

Economists and market analysts are betting on another 25 basis point cut, which would bring the rate down to 4.50%2. The decision is driven by a combination of factors, including a slowdown in consumer price inflation, restrained spending, and a generally lackluster economic outlook.

Recent reports show that inflation cooled to 2.7% in June, down from 2.9% in May. This decline has bolstered confidence that the Bank of Canada will continue its efforts to ease monetary policy. Additionally, rising unemployment and subdued growth expectations have further supported the case for another rate cut.

The Bank of Canada is set to announce its decision on Wednesday at 9:45 AM ET, along with the release of its quarterly Monetary Policy Report, which will include updated forecasts for economic growth and inflation.


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