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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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Lawmakers to Receive First Classified Briefing on Iran Strikes Amid Rising Tensions


The Trump administration is set to deliver its first classified briefing to Congress regarding the recent U.S. airstrikes on Iranian nuclear facilities. The session, scheduled for Thursday, follows mounting pressure from lawmakers across party lines who have questioned the legality and effectiveness of the strikes.

President Trump authorized the bombing of three Iranian nuclear sites, claiming the action dealt a decisive blow to Iran’s nuclear ambitions. However, a preliminary U.S. intelligence assessment reportedly suggests the damage may have only delayed Iran’s program by a few months, contradicting the administration’s public statements.

Top national security officials, including CIA Director John Ratcliffe, Secretary of State Marco Rubio, and Defense Secretary Pete Hegseth, are expected to lead the briefing. Director of National Intelligence Tulsi Gabbard, initially slated to attend, will not be present.

The briefing comes as the Senate prepares to vote on a resolution that would require congressional approval for any future military action against Iran. Lawmakers are demanding greater transparency and accountability, with Senate Democratic Leader Chuck Schumer calling the administration’s delay in briefing Congress “outrageous”.

As questions swirl around the strategic impact of the strikes and the administration’s long-term goals, Thursday’s briefing is expected to be both contentious and consequential.

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