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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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Heat Dome Grips Ontario and Quebec as Temperatures Soar

A relentless heat wave continues to smother much of Ontario and southwestern Quebec, with Environment Canada maintaining heat warnings across the region. The sweltering conditions, driven by a lingering heat dome, are expected to persist through Tuesday, with some relief anticipated by midweek.

On Sunday, Toronto recorded a scorching high of 35°C, with humidex values pushing the perceived temperature to a staggering 46°C. Communities stretching from southwestern Ontario to Sudbury and Timmins are under alert, while in Quebec, the most intense heat is being felt from Montreal to Shawinigan and north to Abitibi.

Authorities are urging residents to stay hydrated, avoid strenuous outdoor activities during peak heat hours, and watch for signs of heat-related illness. Schools in some areas have even suspended classes as a precaution.

This extreme weather event is part of a broader pattern of intensifying heat waves linked to climate change. As the summer unfolds, officials continue to monitor conditions closely and advise the public to take necessary precautions.

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