OTTAWA — As another interest rate hike looms, Finance Minister Chrystia Freeland is emphasizing the Bank of Canada’s independence after criticism from federal…
Singh sent a letter to Prime Minister Justin Trudeau Friday warning that another rate hike will have a “serious impact on families” as fears of a recession grow.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
In his letter, Singh reaffirmed support for the Bank of Canada’s independence and acknowledged the bank is following its mandate by raising interest rates, but warned the aggressive rate hikes would hurt workers. As fears bubble about an impending economic slowdown, labour have come out against the aggressive rate-hiking path over concerns about the potential impact of a recession on employment.
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