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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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U.S. Storm Cuts Power to 500,000 and Grounds Thousands of Flights

 

Shannon White, who has been homeless for 30 years, uses a blanket to stay warm while walking to a day shelter during Winter Storm Fern in Oklahoma City, Oklahoma,\.


A powerful winter storm sweeping across the United States has left more than half a million people without electricity and forced the cancellation of thousands of flights, creating widespread disruption from the Midwest to the East Coast. The storm delivered a dangerous mix of heavy snow, strong winds, and freezing rain, overwhelming power grids and making travel nearly impossible in several regions.

Airports in major cities have been hit especially hard, with airlines grounding flights due to icy runways and poor visibility. Travelers are facing long delays, packed terminals, and rapidly changing schedules as the storm continues to move across the country.

Road conditions have deteriorated quickly, prompting officials to warn residents to stay home unless absolutely necessary. Emergency crews are working to restore power and clear major routes, but ongoing snowfall and ice accumulation are slowing progress.

Forecasters expect the storm’s effects to linger, with additional snow and freezing temperatures likely to complicate recovery efforts. Residents are being urged to prepare for extended outages and avoid unnecessary travel as the system continues its path across the nation.

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