Time is pressing (7)

I believe the answer is:

instant

This clue is a double definition.

'time' is the first definition.
(I know that instant is a type of bit)

'is pressing' is the second definition.
(synonyms)

(Other definitions for instant that I've seen before include "The blink of an eye" , "Short time; immediate" , "Occurring with no delay" , "A second - coffee, maybe" , "Mo" .)

I've seen this clue in The Globe and Mail.

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