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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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Israeli Strike Kills Senior Iranian Commander Amid Escalating Cross-Border Attacks

In a significant escalation of hostilities, Israel announced it has killed Mohammad Saeed Izadi, a senior commander in Iran’s Islamic Revolutionary Guard Corps (IRGC), during a targeted airstrike in the Iranian city of Qom. Izadi, who led the Palestine Corps of the IRGC’s elite Quds Force, was reportedly responsible for coordinating military support to Hamas, including funding and arms transfers ahead of the October 7, 2023, attacks on Israel.

Israeli Defense Minister Israel Katz hailed the operation as a “major achievement” for Israeli intelligence and the air force, emphasizing Izadi’s role in orchestrating attacks on Israel and rebuilding Hamas’ military capabilities.

The strike comes amid a broader conflict that erupted on June 13, with both nations exchanging missile and drone attacks. Iran has suffered hundreds of casualties, while Israeli officials report dozens of civilian deaths from Iranian strikes.

Iranian officials have condemned the Israeli attacks and ruled out any diplomatic negotiations over its nuclear program while under fire. Meanwhile, international efforts to de-escalate the conflict have so far failed to yield results.

This latest development underscores the deepening crisis in the region, with fears mounting over further military escalation and the potential for broader regional instability.

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