OTTAWA — Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution's independence.
The premiers of Ontario, British Columbia and Newfoundland and Labrador wrote to Macklem ahead of the Bank of Canada's Sept. 6 rate decision, outlining concerns about the effects of higher rates on their residents and asking the central bank not to raise its key rate further.
"Operational independence is critical to the legitimacy of the central bank, and to the effectiveness of monetary policy as a means to achieve price stability." Last year, Conservative Leader Pierre Poilievre vowed to fire Macklem as he blamed the central bank for the run-up in inflation.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Macklem warned premiers about dangers of putting BoC's independence at riskOTTAWA — Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests ...
Read more »
Macklem warned premiers about dangers of putting BoC's independence at riskOTTAWA — Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution's independence.
Read more »
Macklem warned premiers about dangers of putting BoC's independence at riskOTTAWA — Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution's independence.
Read more »
Ottawa weather: Sunny, chilly Monday in OttawaOttawa will see a break from the rain today but a cooler weather outlook with a chance of showers overnight.
Read more »
Ottawa police looking for crowbar-wielding suspect in Merivale bank robberyOttawa police are looking for anyone who might have information about a suspect in a bank robbery on Saturday.
Read more »
Bank of Canada to leave rates on hold as economy stalls, analysts sayThe Bank of Canada (BoC) will leave interest rates on hold on Wednesday as the economy stalls, analysts said, though many see the central bank warning that...
Read more »