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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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Gulf States Brace for Fallout as U.S. Strikes Iranian Nuclear Facilities

Gulf nations were placed on high alert Sunday following a dramatic escalation in regional tensions after the United States launched airstrikes on Iran’s key nuclear sites. The strikes, which President Donald Trump described as having “obliterated” Iran’s facilities at Fordow, Natanz, and Isfahan, mark a significant turning point in the ongoing conflict between Iran and Israel.

The U.S. action, coordinated with Israel, has raised fears of a broader conflict engulfing the Middle East. Gulf countries such as Saudi Arabia, Bahrain, and Kuwait—home to major U.S. military installations—have ramped up emergency preparedness. Bahrain activated its national emergency plan, advised citizens to avoid unnecessary travel, and instructed 70% of government employees to work from home.

While nuclear authorities in Saudi Arabia and the UAE reported no signs of radioactive contamination, the psychological and geopolitical shockwaves are reverberating. Iran has vowed to defend its sovereignty, warning of “everlasting consequences” if provoked further.

Regional analysts warn that the direct involvement of the U.S. could drag Gulf states deeper into the conflict, despite their efforts to mediate and maintain stability. As tensions mount, the world watches closely for Iran’s next move—and whether diplomacy can still find a foothold in a region on the brink.

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