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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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Kremlin Hardens Stance Ahead of Alaska Summit, Rejects Compromise on Ukraine



Moscow Digs In as High-Stakes Talks Loom

With the upcoming Alaska summit between Russian President Vladimir Putin and U.S. President Donald Trump drawing global attention, the Kremlin has firmly rejected any suggestion of compromise on Ukraine. Russian officials reiterated their longstanding demands: a full withdrawal of Ukrainian forces from occupied territories and Kyiv’s formal abandonment of NATO ambitions.

Despite speculation that Putin might soften his position, Deputy Foreign Ministry spokesperson Alexei Fadeev dismissed such reports, citing Putin’s 2024 speech that laid out Russia’s conditions for peace. These include Ukraine ceding control of parts of Donetsk, Zaporizhzhia, and Kherson, and recognizing Russia’s annexation of Crimea and other regions.

Ukraine Holds Firm

Ukrainian President Volodymyr Zelenskyy has maintained that any peace deal must begin with a ceasefire and will not involve territorial concessions. He reaffirmed Ukraine’s commitment to NATO and rejected any recognition of Russian control over Ukrainian land.

Global Stakes

The Alaska summit marks the first U.S.-Russia meeting since 2021 and could shape European security for decades. While Trump has floated the idea of land swaps to end the war, critics warn that sidelining Ukraine in negotiations risks legitimizing aggression and undermining international law.

As both sides dig in, the path to peace remains fraught—and the world watches closely.

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