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Bank of Canada Holds Steady Amid Trade Turbulence

  The Bank of Canada has opted to maintain its key interest rate, signaling a cautious approach as uncertainty swirls around international tariffs and trade relations. This move keeps the benchmark rate unchanged, offering a stabilizing signal to markets while leaving room for potential rate cuts in the months ahead. The decision reflects concerns over economic fragility, particularly as Canadian exporters face mounting pressure from shifting global trade dynamics. While inflation has shown signs of easing, policymakers remain wary of unpredictable external shocks that could weigh on domestic growth. Governor Tiff Macklem indicated that future rate adjustments are not off the table, especially if trade tensions escalate or if inflation continues to track below target. Analysts interpret the Bank's message as a strategic pause rather than a pivot, allowing for flexibility in a volatile economic climate. For Canadian households and businesses, the move offers short-term reassuran...
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Greece Rallies Libya and EU Allies to Stem Migration Surge

Greek Prime Minister Kyriakos Mitsotakis has called for closer cooperation with Libya and the European Union to address a sharp rise in migration flows from North Africa. Speaking ahead of a European Council summit in Brussels, Mitsotakis emphasized the need for immediate action, citing a significant increase in seaborne arrivals from eastern Libya, particularly to the southern Greek islands of Crete and Gavdos.

To counter the surge, Greece announced plans to deploy two frigates and an additional vessel off Libya’s territorial waters. The move, described as a deterrent against human traffickers, will be coordinated with Libyan authorities and European partners.

Mitsotakis also revealed that EU migration officials and ministers from Italy, Greece, and Malta will visit Libya in early July to press for stronger collaboration. “Libyan authorities should cooperate with Europe to stop migrants sailing from there or turn them back before they exit Libyan territorial waters,” he stated.

The initiative comes amid growing concerns over the use of longer, more dangerous migration routes from North Africa, as traffickers adapt to increased patrols along Greece’s eastern maritime borders.

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