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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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Missiles and Fallout: Israel-Iran Conflict Spirals into Crisis

The Israel-Iran conflict has entered a perilous new phase, marked by high-stakes military strikes and mounting civilian casualties. On Thursday, Israel launched targeted airstrikes on Iran’s nuclear infrastructure, including the Arak heavy-water reactor and facilities in Natanz and Isfahan. While Israeli officials claim these attacks were aimed at crippling Iran’s nuclear ambitions, Tehran has condemned them as acts of aggression.

In a swift and devastating response, Iran fired ballistic missiles into Israeli territory, one of which struck Soroka Hospital in Beersheba. The attack caused extensive damage and injured dozens, prompting Israeli Prime Minister Benjamin Netanyahu to vow that Iran’s “tyrants” would pay a “full price”.

The week-long conflict has already claimed hundreds of lives across both nations. Israel’s strikes have reportedly killed over 600 people in Iran, while Iranian missile attacks have left at least 24 dead in Israel. The humanitarian toll is rising, with hospitals overwhelmed and civilians fleeing urban centers.

As global leaders call for restraint, the specter of U.S. involvement looms large. President Donald Trump has remained noncommittal, stating, “I may do it. I may not do it,” when asked about potential American military support.

With no diplomatic off-ramp in sight, the region teeters on the edge of a broader war—one that could reshape the Middle East for years to come.

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