Canada Enters Technical Recession

Statistics Canada reported that the national economy contracted for the second consecutive quarter, marking a technical recession.

This data has triggered a fierce political debate, with opposition leaders labeling it a 'full-blown Liberal recession.' The economic downturn comes as Canadians increasingly sour on the U.S. and embrace stronger ties with Europe and NATO, according to a Nanos poll.

Meanwhile, Brazil has extended measures to limit fuel price hikes due to the Iran war, and Turkey has scrapped its inflation target as economic strains deepen, highlighting global economic volatility and its impact on national policies.