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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 Climbs to 2.4% in September, Driven by Food and Fuel

 

National Bank economists Taylor Schleich and Ethan Currie wrote that unless recent inflation trends were “totally derailed/recast” by today’s data, the Bank of Canada is likely to cut interest rates again at its October 29 announcement.


Canada’s annual inflation rate accelerated to 2.4% in September, up from 1.9% in August, according to the latest data from Statistics Canada. The increase was slightly higher than economists’ expectations of 2.2%, signaling renewed pressure on household budgets.

The uptick was largely fueled by grocery prices, which rose 4% year-over-year, and a smaller-than-expected decline in gasoline prices, which pushed the overall Consumer Price Index higher. Shelter costs also climbed 2.6%, while transportation rose 1.5%.

Economists note that while inflation remains within the Bank of Canada’s target range of 1–3%, the upward trend could complicate the central bank’s upcoming policy decision later this month. Markets are closely watching whether the bank will proceed with another rate cut or hold steady in light of the new figures.

For Canadian households, the latest numbers highlight the ongoing challenge of balancing rising food and housing costs against modest wage growth.


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