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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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Israel Approves Plan to Seize Gaza City

 

 A damaged Israeli flag stands in Gaza, as seen from the Israeli side of the border between Israel and the Gaza Strip, on August 7, 2025

In a dramatic escalation of its nearly two-year conflict with Hamas, Israel’s security cabinet has approved a plan to take control of Gaza City, the largest urban center in the Gaza Strip. Prime Minister Benjamin Netanyahu announced the decision early Friday, stating that the Israel Defense Forces (IDF) will prepare to occupy the city while providing humanitarian aid to civilians outside combat zones.

Netanyahu emphasized that Israel does not intend to govern Gaza long-term, but rather aims to establish a security perimeter and eventually hand over control to Arab forces unaffiliated with Hamas or the Palestinian Authority. The move has sparked widespread international condemnation, with leaders from the UN, UK, China, and Turkiye warning of dire humanitarian consequences and calling for restraint.

The plan includes evacuating civilians from Gaza City and launching a ground offensive, though no timeline has been confirmed. Critics within Israel, including military officials and hostage families, have expressed concern that the operation could endanger remaining hostages and further strain the IDF.


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