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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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Canada’s Inflation Slows in August, Boosting Odds of Rate Cut

 

                                           People browse a grocery store in Toronto, Ontario, Canada 


Canada’s annual inflation rate edged up to 1.9% in August, slightly below economists’ expectations of 2.0%, according to Statistics Canada data. The modest rise was driven largely by a slower year-over-year decline in gasoline prices, which fell 12.7% compared to a 16.1% drop in July. On a monthly basis, the Consumer Price Index (CPI) slipped 0.1%, while the seasonally adjusted measure rose 0.2%.

Excluding gasoline, inflation came in at 2.4%, marking a slight easing from the previous three months’ 2.5% pace. Core inflation indicators showed mixed results: the CPI-median held steady at 3.1%, while the CPI-trim eased to 3.0% from 3.1% in July.

Shelter costs, which make up nearly a third of the CPI basket, rose 2.6%, down from 3.0% in July, as both mortgage interest and rent increases moderated. Food prices climbed 3.4%, with meat prices surging 7.2% year-over-year.

The softer-than-expected inflation reading comes just ahead of the Bank of Canada’s policy decision, with markets now pricing in an 87% chance of a 25-basis-point rate cut. Analysts suggest the data could strengthen the case for easing monetary policy, even as underlying price pressures remain resilient.


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