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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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Rising Tensions in the Middle East as Iran Targets U.S. Military Sites

In a dramatic escalation of regional tensions, Iran has reportedly launched missile strikes targeting U.S. military installations in Qatar and Iraq. The attacks—described by Iranian officials as retaliatory—come amid an increasingly volatile security environment following recent diplomatic friction between Tehran and Washington.

Preliminary reports indicate that several missiles struck facilities housing U.S. personnel, though details about casualties and structural damage remain unconfirmed. U.S. military officials have yet to release a full statement, but defense analysts suggest the strikes may prompt a reassessment of force posture in the region.

Iranian state media framed the action as a defensive response, citing alleged threats against its national sovereignty. Meanwhile, international leaders are calling for calm, fearing a broader conflict could erupt if de-escalation efforts fail.

The situation remains fluid, with global attention now focused on whether these strikes signal a strategic warning or the beginning of a more entrenched standoff.


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