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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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Tragedy Strikes Bow Glacier Falls: Rock Slide Claims One Life, Injures Three

A devastating rock slide near Bow Glacier Falls in Banff National Park has left one person dead and three others injured, according to officials. The incident occurred around 1:30 p.m. on Thursday, approximately 37 kilometers north of Lake Louise along the Icefields Parkway.

Multiple hikers were caught in the sudden rockfall while exploring the popular trail. Emergency crews, including Parks Canada, RCMP, STARS Air Ambulance, and local fire departments, responded swiftly to the scene. Two of the injured were airlifted to Foothills Medical Centre in Calgary, while another was transported by ground ambulance.

Eyewitnesses described a terrifying moment as a large section of rock broke away from the mountainside, sending debris tumbling down the slope. One hiker recounted sprinting for safety as a massive dust cloud engulfed the area.

Search and recovery operations continued into the evening, with drones and rescue dogs deployed to ensure no one else was trapped. Parks Canada has issued temporary closures around Bow Lake and urged visitors to avoid the area while recovery efforts are underway.

Officials have extended their condolences to the victims and their families, calling the event a heartbreaking reminder of the unpredictable power of nature.

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