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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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Erdogan Denounces Israeli Policies, Reaffirms Palestinian Sovereignty in Pakistan

 

During a high-profile visit to Pakistan on Thursday, Turkish President Recep Tayyip Erdogan launched a scathing critique of Israel’s handling of the Gaza situation. Speaking at a televised business forum in Islamabad, Erdogan condemned what he described as Israel’s failure to honor a ceasefire and its aggressive military actions in Gaza.

“Gaza belongs to our Gazan brothers and sisters and will remain so forever,” Erdogan declared, emphasizing that the region—where Palestinians have made immense sacrifices—must not be subject to any forced relocation or compromise. He warned that Israel’s ongoing operations would only lead the area “toward blood and tears again.”

Erdogan’s remarks came as he and Pakistani Prime Minister Shehbaz Sharif jointly chaired talks aimed at deepening bilateral cooperation. During the visit, both leaders oversaw the signing of 24 strategic agreements covering economic, trade, and defense ties—a move underscoring their mutual commitment to regional stability amid escalating tensions.

The Turkish president’s forceful speech not only reiterated his longstanding support for the Palestinian cause but also signaled Turkey’s determination to challenge policies seen as exacerbating the humanitarian tragedy in Gaza. His comments resonated with many in the region who view a fair and enduring peace as contingent on recognizing Palestinian rights and sovereignty.

Erdogan’s rhetoric comes at a time when the international community is calling for renewed efforts to secure a lasting ceasefire in the conflict-ravaged region. His impassioned address adds to a chorus of voices demanding accountability and justice for those affected by the ongoing violence.


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