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Bank of Canada Holds the Line as Global Turmoil Clouds Outlook

  Bank of Canada Governor Tiff Macklem takes part in a press conference in Ottawa on September 17, 2025 The Bank of Canada has opted to keep its key interest rate steady at 2.25%, a decision that reflects the delicate balancing act policymakers face as global uncertainty intensifies. With inflationary pressures rising and economic growth showing signs of strain, the central bank is navigating a narrow path shaped by forces largely outside its control. A major driver of the current tension is the surge in oil prices triggered by ongoing geopolitical conflict. Higher energy costs are feeding into broader inflation, raising concerns that price pressures could become more persistent. At the same time, elevated borrowing costs and weakening consumer confidence are weighing on domestic economic momentum. By holding the rate, the Bank of Canada signals caution: it aims to avoid stifling growth while still keeping inflation expectations anchored. The central bank emphasized that it rema...
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*EU Defies US Sanctions on ICC Judges, Widening Global Divide


The European Union has firmly rejected U.S. sanctions imposed on International Criminal Court (ICC) judges, escalating diplomatic tensions between Western allies. The dispute stems from Washington's punitive measures against ICC officials investigating alleged war crimes committed by U.S. personnel.

Brussels' refusal to comply with the sanctions marks a significant stand in support of the ICC, reinforcing the bloc's commitment to international justice. EU officials criticized the U.S. move, calling it an attack on judicial independence and an undermining of global legal institutions. 

The transatlantic rift underscores broader disagreements on international law and accountability, with the EU insisting on the ICC’s right to investigate war crimes impartially, regardless of nationality. While Washington maintains that the court lacks jurisdiction over its citizens, Europe's defiance signals a growing divide in global governance frameworks.

Diplomatic efforts to resolve the dispute remain ongoing, but the confrontation highlights the evolving geopolitical landscape where traditional allies increasingly diverge on core legal and ethical principles.

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