Skip to main content

Featured

5 Things to Know Today — June 11, 2026

  The Bank of Canada confirmed its fifth straight rate hold yesterday, oil slipped back toward $89 a barrel after fresh U.S. strikes on Iran, and Canada Post workers officially have a new contract. Here is what every Canadian needs to know heading into Wednesday. 1 of 5 — Interest Rates Bank of Canada holds at 2.25% — for the fifth time in a row The Bank of Canada kept its benchmark interest rate unchanged at 2.25% on June 10, marking five consecutive holds since late 2025. Governor Tiff Macklem said the central bank is trying to balance two opposing forces: inflation pushed higher by elevated energy costs from the Middle East war, and an economy that has barely grown in recent quarters. "Economic weakness combined with rising inflation is a dilemma for monetary policy," Macklem told reporters, adding that holding the rate "balances those risks" for now. What it means for you: Variable-rate mortgage holders and borrowers with lines of credit get another month of pa...
Post a Comment
Read more

article

Labels

Former Soccer Star Mikheil Kavelashvili Elected President of Georgia, Sparking Concerns Over EU Aspiration

 

In a significant political shift, former soccer player Mikheil Kavelashvili has been elected as the President of Georgia. This development has raised concerns about the country's future relationship with the European Union. Kavelashvili, 53, secured the presidency with the backing of the ruling Georgian Dream party, which holds a strong influence over the 300-seat electoral college that replaced direct presidential elections in 2017.

The election outcome is seen by many as a setback for Georgia's EU aspirations. The opposition has accused the Georgian Dream party of rigging the vote with Moscow's assistance, further straining the country's political landscape. Critics argue that the ruling party's policies are increasingly authoritarian and pro-Russian, which could hinder Georgia's efforts to integrate with the European Union.

Outgoing President Salome Zourabichvili, a pro-Western leader, has vowed to remain in office until a new election is held, citing the lack of legitimacy in the current parliamentary setup. The political turmoil has led to widespread protests and calls for new elections under conditions that ensure the will of the people is accurately represented.

Kavelashvili's presidency marks a pivotal moment for Georgia, as the nation navigates its path between European integration and maintaining relations with Russia. The coming months will be crucial in determining the direction of Georgia's political and international future.

Labels:

Comments

Post a Comment