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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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Biden vows to respond after Iranian-backed drone strike kills 3 US troops in Jordan

 


President Joe Biden has vowed to respond after three American troops were killed and dozens more were injured in an overnight drone strike in northeast Jordan near the Syrian border. 

The President blamed Iran-backed militias for the first U.S. fatalities after months of strikes by such groups against American forces across the Middle East amid the Israel-Hamas war. Biden, who was traveling in South Carolina, asked for a moment of silence during an appearance at a Baptist church’s banquet hall. “We had a tough day last night in the Middle East. We lost three brave souls in an attack on one of our bases," he said. After the moment of silence, Biden added, “and we shall respond.” With an increasing risk of military escalation in the region, 

U.S. officials were working to conclusively identify the precise group responsible for the attack, but they have assessed that one of several Iranian-backed groups was behind it. Biden said in a written statement that the United States “will hold all those responsible to account at a time and in a manner (of) our choosing.” Defense Secretary Lloyd Austin said "we will take all necessary actions to defend the United States, our troops, and our interests.”


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