Name: Bank of Canada holds key interest rate, warns war will drive inflation
Uploaded: 2026-03-19T04:02:41.589Z
Duration: 1 min 58 s
Description: The Bank of Canada held its key interest rate steady at 2.25 per cent, but governor Tiff Macklem warned of economic uncertainty ahead as the war in the Middle East causes energy prices to rise.

The Bank of Canada held its key interest rate steady at 2.25 per cent, but governor Tiff Macklem warned of economic uncertainty ahead as the war in the Middle East causes energy prices to rise.

Downtown

The Bank of Canada has decided to maintain its key interest rate at 2.25 percent, following a surge in oil prices driven by conflict in the Middle East. This increase in energy costs has raised inflation risks, with the central bank warning it may raise rates if inflation becomes more widespread and persistent.

Businesses and consumers are already feeling the impact of higher fuel prices, while the broader economy faces challenges from slowed growth and a softened job market. The Bank of Canada noted that it is making policy decisions one meeting at a time due to ongoing uncertainty and the dual challenge of rising prices and unemployment.

Bank of Canada holds key interest rate, warns war will drive inflation

NASA’s historic Artemis II mission to the moon launched Wednesday evening, taking four astronauts into Earth's orbit and on a path toward the world's first crewed lunar mission in a generation, beginning a journey into remarkable territory.

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President Trump addressed the nation about the Iran war Wednesday night, saying that the U.S. would complete its mission there "very shortly." He also sought to assure Americans that the conflict with Iran would be brief compared to other wars in U.S. history and insisted that gas prices would go down quickly.

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The first payment to Ukraine under the €90 billion loan could happen in a matter of days after Hungary lifts its veto. EU officials, however, concede the dispute will be solved only after the country goes to the polls on April 12.

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U.S. President Donald Trump is again threatening to pull the United States out of NATO, calling European allies "cowards" for their refusal to support the joint U.S.-Israeli war against Iran.

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President Donald Trump became the first sitting U.S. president to attend a Supreme Court hearing after showing up on Wednesday (April 1) to listen to arguments on his birthright citizenship executive order.

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American journalist Shelly Kittleson, who was kidnapped in Iraq, was concerned about her safety before she was taken, one of her editors tells CBS News' Chris Livesay.

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The Artemis II mission to the moon is expected in a few hours if all goes according to plan. Linda Godwin, a retired astronaut and professor emeritus at the University of Missouri, joins CBS News with more.

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Golf legend Tiger Woods said on Instagram that he's "stepping away for a period of time to seek treatment" and focus on his health following his DUI arrest after a car crash in Florida last week. His announcement comes as court documents reveal new details about his arrest.

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Heavy strikes hit Lebanon's capital Beirut overnight as Israel claimed it had struck a "senior Hezbollah commander" and another member of the group. Israeli Defence Minister Israel Katz said his country's military intends to occupy a swathe of southern Lebanon.

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Syria's president has met with UK Prime Minister Keir Starmer in London to discuss the return of Syrian refugees and potential British investment in his country. Ahmed al-Sharaa is trying to drum up support in Europe for Syria's economic recovery after years of conflict.

London

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President Trump lashed out at European allies who he said haven't done enough to help reopen the Strait of Hormuz to oil tanker traffic. Weijia Jiang has details.

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The U.S. Supreme Court ruled on Tuesday (March 31) in the case of a Colorado law banning conversion therapy for minors. Justice Ketanji Brown Jackson was the lone dissenter.

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Spain's airspace is now closed to U.S. planes involved in attacks on Iran, a step beyond its previous denial of use of jointly operated military bases. Prime Minister Pedro Sanchez has become one of the most vocal critics of the U.S. and Israeli attacks in Iran.

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The FBI says the synagogue attack earlier in March was inspired by Hezbollah, targeting Michigan’s largest Jewish temple with a truck packed with fuel.

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Tehran

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Israeli Prime Minister Benjamin Netanyahu, Trump's partner in attacking Iran, said more than half of his military aims had been achieved, but both leaders refused to put a timeline on an operation that has ignited a month-long regional war and jolted global markets.

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Israel’s parliament on March 30 passed its annual budget in a marathon overnight session, ensuring that Prime Minister Benjamin Netanyahu’s government can complete its term until the fall. The opposition slammed the budget for increasing funding to Israel's ultra-Orthodox communities at a time when the country is facing soaring costs over its war in Iran.

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Breakdown