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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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Eid Brings a Brief Calm as Pakistan and Afghanistan Agree to Ceasefire

Taliban soldiers sit next to an anti-aircraft gun while on lookout for Pakistan's fighter jets, in Khost province, Afghanistan.

In a rare moment of de‑escalation, Pakistan and Afghanistan have agreed to temporarily halt hostilities ahead of Eid al‑Fitr, offering a brief respite after weeks of intensifying cross‑border tensions. 

The ceasefire—requested by Saudi Arabia, Qatar, and Turkey—comes after a series of deadly incidents, including a controversial Pakistani airstrike on a Kabul drug rehabilitation hospital that Afghan officials say killed hundreds. The pause is set to last through the Eid holiday, beginning at midnight on Wednesday and continuing until Monday. 

Officials in Islamabad described the move as a “gesture of good faith,” expressing hope that the truce will allow civilians on both sides to observe the holiday in peace. Kabul, meanwhile, held mass funerals for victims of the recent strike as it announced its own halt to fighting. 

While the ceasefire offers a momentary calm, it remains uncertain whether it will pave the way for longer‑term dialogue between the two neighbors, whose relations have been strained by accusations of cross‑border militancy and retaliatory attacks.


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