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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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Canada Rebukes Russia Over Drone Incursion Into NATO Airspace

                                            Foreign Affairs Minister Anita Anand

Canada has formally summoned Russian Ambassador Oleg Stepanov following the reported incursion of multiple Russian drones into Polish airspace earlier this week. Foreign Affairs Minister Anita Anand described the incident as “unacceptable and reckless,” stressing that it constituted a violation of both Polish and NATO airspace.

The move came after Poland reported that several drones crossed its borders between Tuesday and Wednesday, with NATO allies intercepting and shooting down some of them. While Russia and Belarus suggested the breach may have been caused by electronic interference, Polish leaders dismissed the claim, calling the act deliberate.

Anand reaffirmed Canada’s commitment to NATO’s eastern flank, noting that Ottawa’s support for Ukraine and regional security would remain steadfast. Canada currently maintains about 2,000 troops in Latvia as part of a NATO battle group.

The Russian Embassy in Ottawa stated that Moscow has no reason to target Poland or other NATO members, and proposed bilateral consultations with Warsaw over the incident. However, NATO allies are already reinforcing defences in the region amid heightened tensions.

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