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Bank of Canada Freezes Rates as Trump’s Tariff Threat Looms Over Economy

Bank of Canada Holds Rates Steady Amid Tariff Turmoil In a widely anticipated move, the Bank of Canada has opted to maintain its benchmark interest rate at 2.75% for the third consecutive time, as trade tensions with the United States intensify ahead of an August 1 tariff deadline. Economists had unanimously predicted the hold, citing mixed economic signals: while employment remains strong, core inflation continues to hover above the Bank’s target. Governor Tiff Macklem emphasized that monetary policy cannot offset the impact of prolonged trade conflicts, reiterating the Bank’s commitment to price stability for Canadians. The decision comes as President Trump threatens sweeping tariffs on Canadian goods, including a potential 35% blanket rate and sector-specific levies on steel, aluminum, and autos. These measures have injected uncertainty into business planning and consumer confidence, with many firms scaling back hiring and investment. Despite the hold, analysts warn that further...
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Gaza’s Water Crisis Deepens: UNICEF Warns of Looming Catastrophe

Gaza is teetering on the edge of a humanitarian disaster as its water infrastructure collapses under the weight of conflict and blockade, according to UNICEF. The agency has described the situation as a “man-made drought,” with only 40% of drinking water production facilities still operational.

UNICEF spokesperson James Elder warned that children are at immediate risk of dying from thirst, as access to clean water has plummeted far below emergency standards. The crisis is compounded by a fuel blockade that has crippled the operation of water pumps and distribution systems, leaving over two million Palestinians without reliable access to safe water.

The consequences are already visible: a 50% surge in malnutrition among children under five was reported between April and May, and half a million people are facing hunger. Elder emphasized that the crisis is not due to logistical failure but political inaction, noting that with sufficient fuel, hundreds of wells could resume operation within a day.

As the blockade continues and humanitarian aid remains restricted, UNICEF has called this the most critical moment since the conflict began. Without urgent intervention, the most basic element of life—water—may become the deadliest weapon in Gaza’s ongoing tragedy. 



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