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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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Trump Weighs Iran Strike Amid Rising Tensions, Decision Expected Within Two Weeks



President Donald Trump is expected to decide within the next two weeks whether the United States will launch military strikes against Iran’s nuclear facilities, according to a statement from the White House on Thursday. The announcement comes amid escalating hostilities between Iran and Israel, with both nations exchanging missile attacks and targeting critical infrastructure.

White House Press Secretary Karoline Leavitt conveyed Trump’s message, stating that the president is leaving room for diplomacy but is prepared to act if necessary. “Based on the fact that there is a chance for substantial negotiations that may or may not take place with Iran in the near future, I will make my decision on whether or not to go within the next two weeks,” Trump said.

The president’s deliberation follows reports of Iranian missile strikes on Israeli cities, including a direct hit on Soroka Medical Center in Beersheba, which caused significant damage and injuries. In response, Israel has intensified its military campaign, targeting Iran’s nuclear infrastructure, including the Arak heavy water reactor.

Trump’s decision is expected to hinge on three key factors: the necessity of a strike, the risk of prolonged U.S. involvement in the Middle East, and the likelihood of successfully dismantling Iran’s nuclear capabilities. While diplomatic channels remain open, including potential talks in Geneva between Iran and European leaders, the administration has made it clear that any agreement must eliminate Iran’s ability to enrich uranium.

As the world watches closely, the next two weeks could determine whether the U.S. joins Israel in a broader military campaign or pursues a last-minute diplomatic breakthrough. Either path carries profound implications for regional stability and global security.

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