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BREAKING
Global Sumud Flotilla: Another boat has been hit in a suspected drone attack; no injuries reported
Brigadier General Saree: The operation successfully achieved its goal and caused millions to flee to shelters.
Yemeni Armed Forces: We attacked several targets around occupied al-Quds with a Palestine 2 hypersonic ballistic missile with cluster warheads.
Hamas: We hold the US administration jointly responsible with the occupation for this crime due to its constant support for the aggression and crimes of the occupation against our people.
Hamas: Targeting the negotiating delegation while it was discussing the US president's proposal confirms that Netanyahu and his government do not want to reach any agreement.
Hamas: We call for urgent action to pressure the occupation to stop the war of genocide and ethnic cleansing and to achieve justice for our Palestinian people.
Hamas: The crime proved that the Zionist occupation is a threat to the region and the world, and that Netanyahu is trying to erase our national cause and the rights of our people.
Hamas: We confirm the enemy's failure to assassinate our brothers in the negotiating delegation, while several of our martyred brothers have ascended to the highest ranks of glory.
Hamas: The crime once again reveals the criminal nature of the occupation and its desire to undermine any chances of reaching an agreement.
Hamas: The crime represented an aggression against the sovereignty of the sisterly State of Qatar, which, along with sisterly Egypt, is playing an important and responsible role in sponsoring the mediation.

Canada to short-lived ‘moderate' recession in 2023 - Central Bank

  • By Al Mayadeen English
  • Source: Agencies
  • 7 Jul 2022 19:53
2 Min Read

According to a report by the Royal Bank of Canada, higher interest rates are a must even if the decision will contract the economy.

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  • Royal Bank of Canada
    The Royal Bank of Canada

The Royal Bank of Canada (RBC) said today, Thursday, that in the coming year, Canada will be moving to a short-lived but moderate recession after the rise in interest rates to tackle inflation and labor shortages.  

In a report, RBC said that “This recession will be moderate and short-lived by historical standards and can be reversed once inflation settles enough for central banks to lower rates."

The report added that high inflation and labor shortages are creating an issue because they limit the purchasers’ capacity to pay for gasoline and groceries.

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The global stresses on the supply chains caused in part by the conflict in Ukraine have led to pressures on the economy and have affected agricultural and energy prices, it said.  

According to the report, the Bank of Canada is forced to impose higher interest rates even if such a decision may mean contracting the economy; however, imposing higher rates now could avoid more “damaging” interest rate hikes, continuing with ten years of low inflation.    

The BRC said the recession is expected to be moderate and short-lived since global inflation may be peeking due to the Canadians spending less on goods and more on the services that were unavailable in the last two years as a result of the covid-19 pandemic measures.    

Read more: Canada truck convoy continues to paralyze capital

“Prices are still rising too fast and inflation won’t slow sustainably until demand falls. But once that happens, central banks will ease interest rates again,” the report added.

  • Canada
  • Recession
  • Interest rate
  • Royal Bank of Canada

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