Wednesday's top stories in 10 minutes

The Bank of Canada has held its key interest rate at 2.25% for the fifth consecutive time, citing escalating global uncertainty from the Middle East conflict and shifting U.S. trade policy. Governor Tiff Macklem delivered a stark warning: further rate cuts may be needed if U.S. trade restrictions hit Canada, but rate hikes could follow if energy-driven inflation persists. Meanwhile, Belfast erupted in racial violence after a stabbing by a Sudanese man, leading to arson, mass protests, and 100 rioters already facing prosecution. In the Middle East, Iran launched retaliatory missile strikes against U.S. targets following American military actions, with President Trump threatening further attacks on Iran’s infrastructure. Domestically, Canada’s proposed Digital Safety Act aims to ban social media for under-16s, sparking backlash from teens who argue it would sever vital social connections. Critics also question the feasibility and privacy risks of proposed identity verification. On the political front, Prime Minister Mark Carney faces mounting pressure in negotiations with provincial leaders over KUSMA, as the U.S. pushes to rewrite the automotive chapter and impose stricter labor rules. Alberta’s special carbon deal has intensified interprovincial tensions, with Saskatchewan demanding similar terms and Alberta’s Premier Daniel Smith setting a referendum on Canada’s future.