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Canada Holds Steady: Interest Rate Pause Signals Cautious Confidence

                      The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. The Bank of Canada has opted to keep its key interest rate at 2.25% , a move that underscores a careful balancing act as the country approaches a pivotal moment in North American trade relations. With CUSMA (the Canada‑United States‑Mexico Agreement) negotiations on the horizon, policymakers appear intent on maintaining stability while assessing potential economic turbulence. The decision reflects a mix of optimism and prudence. Inflation has been easing gradually, giving the central bank some breathing room. At the same time, global economic uncertainty and the high stakes of upcoming trade talks mean officials are reluctant to introduce new variables into the financial system. By holding the rate steady, the Bank of Canada signals confidence in the economy’s underlying resilience while acknowledgin...
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Aid Ship Departs Cyprus for Gaza Amid Famine Crisis

 


In a critical effort to address the dire humanitarian situation in Gaza, a ship carrying almost 200 tonnes of food has set sail from Cyprus. This pilot project aims to establish a new sea route for delivering aid to Palestinians who are on the brink of famine. The charity ship Open Arms departed from the port of Larnaca, towing a barge loaded with essential supplies including flour, rice, and protein.

The journey to Gaza typically takes around 15 hours, but the heavy tow barge may extend the trip to possibly up to 2 days. Cyprus, located just over 200 miles (320 km) northwest of Gaza, serves as a crucial departure point for this vital mission.

The situation in Gaza remains dire, with an estimated quarter of the population at risk of starvation. Despite ongoing efforts, aid agencies struggle to meet the daily needs of the people. The United Nations has previously accused Israel of obstructing aid to Gaza, exacerbating the crisis.

In addition to the aid ship from Cyprus, the U.S. military has also stepped in to provide humanitarian relief. Their vessel, the General Frank S. Besson, is en route to Gaza by sea. Furthermore, the U.S. military conducted airdrops, delivering over 27,600 meals and 25,900 bottles of water to northern Gaza.

However, the challenges persist. Crowds awaiting aid trucks at Kuwait Square in Gaza City faced Israeli gunfire, resulting in the loss of lives and injuries. United Nations Secretary-General António Guterres urgently appeals for a truce, the release of hostages, and the removal of obstacles hindering life-saving aid. The threat of an Israeli assault on Rafah looms, potentially plunging the people of Gaza into an even deeper crisis.

As the conflict continues, the toll on Gaza’s population remains devastating. Displacement, inadequate shelter, and scarcity of food and medical supplies persist. Amidst this turmoil, the aid ship’s departure from Cyprus represents a beacon of hope, striving to alleviate suffering and provide essential sustenance to those in need.


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