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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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Inferno at the Doorstep: St. John’s Braces as Wildfires Close In

 

A water bomber drops water onto a wildfire burning in the Paddy's Pond area just outside St. John's on Wednesday.


A fast-moving wildfire south of Newfoundland and Labrador’s capital has triggered evacuation alerts for thousands, as officials warn the situation could escalate with little notice. The Paddy’s Pond blaze, now estimated at roughly 300 hectares, has prompted a regional state of emergency for parts of St. John’s, Paradise, and Conception Bay South.

Residents in Southlands, Galway, and sections of Paradise remain on high alert, with some areas already under mandatory evacuation orders. The fire is burning dangerously close to the Trans-Canada Highway, just 15 kilometres from downtown St. John’s, forcing road closures and disrupting local services.

Six water bombers, supported by helicopters and ground crews, are battling the flames amid extreme fire conditions. Officials say aerial suppression has slowed the fire’s growth, but it remains out of control. The province has also imposed a temporary ban on off-road vehicles in forested areas to reduce the risk of new ignitions.

Premier John Hogan urged residents to stay prepared, keep emergency bags packed, and follow official updates closely. “We could be called to evacuate at a moment’s notice,” he cautioned, as smoke and uncertainty continue to hang over the region.


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