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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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Kyiv Endures Unprecedented Aerial Assault as Russia Launches 550 Drones and Missiles

In the early hours of July 4, 2025, Kyiv was rocked by the most intense aerial bombardment since the onset of Russia’s full-scale invasion of Ukraine. According to Ukrainian officials, Russia launched a staggering 550 drones and missiles across the country, with the capital bearing the brunt of the attack.

The assault, which lasted over seven hours, injured at least 23 people, 14 of whom required hospitalization. Ukrainian air defenses managed to intercept 270 targets, including two cruise missiles, while another 208 were lost from radar and presumed jammed. Despite these efforts, nine missiles and 63 drones successfully struck eight locations in Kyiv, causing widespread destruction.

Fires broke out across multiple districts. In Solomianskyi, a five-story residential building was partially destroyed, and a seven-story building’s roof caught fire. Other blazes were reported at warehouses, garages, and even rail infrastructure, severely disrupting daily life.

The timing of the attack—just hours after a phone call between U.S. President Donald Trump and Russian President Vladimir Putin—has raised eyebrows. Ukrainian President Volodymyr Zelenskyy called the strike a “deliberate act of terror,” underscoring Moscow’s continued aggression and disregard for peace efforts.

As Kyiv begins to clear the rubble and assess the damage, the scale and coordination of this assault mark a grim escalation in the ongoing conflict.

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