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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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Tragedy Strikes Sumy: Over 30 Lives Lost in Missile Attack

In a devastating turn of events, a Russian missile strike on the Ukrainian city of Sumy has claimed the lives of at least 32 people, including children, and left 84 others injured. The attack occurred on Palm Sunday, a day meant for peace and reflection, as two ballistic missiles struck the city center around 10:15 a.m. local time.

The aftermath painted a grim picture, with rescue teams working tirelessly amidst the rubble of destroyed buildings and burnt-out vehicles. Acting Mayor Artem Kobzar described the incident as a "terrible tragedy," emphasizing the profound loss felt by the community.

Ukrainian President Volodymyr Zelenskyy condemned the attack, calling for a global response to what he described as acts of terror. This strike marks yet another escalation in the ongoing conflict, highlighting the urgent need for international intervention and a push towards peace.

The attack on Sumy is a stark reminder of the human cost of war, leaving a community in mourning and the world grappling with the consequences of prolonged conflict.

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