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.
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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 ...
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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 »
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.
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