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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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Symbolic Recognition, Real Suffering: Gazans See No Relief Amid War

Displaced Palestinians, fleeing northern Gaza due to an Israeli military operation, sit on vehicles packed with belongings as they move southward after Israeli forces ordered residents of Gaza City to evacuate to the south, in the central Gaza Strip.

As Western nations move to formally recognize a Palestinian state, the people of Gaza remain trapped in a relentless cycle of violence and despair. France, the UK, Canada, and others have announced recognition of Palestinian statehood, a diplomatic step hailed as historic. Yet for Gazans, the gesture has brought no tangible respite from the devastation of war.

On the ground, Israeli forces continue their offensive, pushing deeper into Gaza City and surrounding neighborhoods. Local health authorities report dozens killed daily, while hospitals warn of imminent fuel shortages that could shut down life-saving equipment. Families, unable to flee or find safety, describe their lives as a constant struggle for survival.

Human rights groups argue that recognition without concrete action risks being little more than a hollow gesture. Amnesty International has called on governments to pair recognition with measures such as halting arms sales to Israel, lifting the blockade on Gaza, and pressing for accountability under international law.

For many Gazans, the contrast is stark: while world leaders celebrate symbolic diplomacy, their reality is one of hunger, displacement, and fear. As one resident lamented, “We want the war to end, we want our slaughter to end—that’s what we need now, not declarations.”


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