Close X
Monday, November 18, 2024
ADVT 
National

Liberals could ask Bank of Canada to stop hiking interest rates: NDP

Darpan News Desk The Canadian Press, 06 Sep, 2023 02:00 PM
  • Liberals could ask Bank of Canada to stop hiking interest rates: NDP

The New Democrats say the federal government should follow the lead of British Columbia's premier and ask the Bank of Canada to stop raising interest rates.

Premier David Eby wrote to Bank of Canada Governor Tiff Macklem last week and asked him not to hike rates again as Canadians struggle to pay for food and rent.

NDP Leader Jagmeet Singh applauded that move and today says the Liberals should be reconsidering the central bank's mandate to ensure it puts people first.

In response to a request for more details on the suggested changes, Singh's director of communications says the Liberals could ask the central bank to halt rate hikes as part of regular discussions between the governor and federal finance minister.

While the federal government and the Bank of Canada set the central bank's mandate, its operations — including interest-rate decisions — are independent.

The central bank announced today it is holding its key interest rate at five per cent as signs of a weakening economy grow.

MORE National ARTICLES

Vancouver home sales to remain flat, forecast says

Vancouver home sales to remain flat, forecast says
While the current downturn has resulted in a price decline of about 10 per cent, the forecast says steady population growth in Metro Vancouver will underpin prices and maintain or even increase values. It says the average home price this year for apartments, attached and detached homes is expected to climb slightly to $1.2 million, a 1.4 per cent increase.    

Vancouver home sales to remain flat, forecast says

U.S. launches Round 2 in dairy dispute with Canada

U.S. launches Round 2 in dairy dispute with Canada
U.S. trade officials and dairy industry advocates say a large share of those quotas were being allocated to processors rather than producers. The U.S. says the federal government amended its policies, but that the new procedures remain "inconsistent" with the terms of the agreement, known as USMCA in the U.S. and CUSMA in Canada.

U.S. launches Round 2 in dairy dispute with Canada

Lower mainland residents wake up to snow on Tuesday morning

Lower mainland residents wake up to snow on Tuesday morning
Snow created slick conditions on the roads and caused delays for commuters in traffic. There were also crashes on many routes of Vancouver and South of the Fraser. Cars got stuck up the hill and there were major delays in transit throughout the day.

Lower mainland residents wake up to snow on Tuesday morning

Experts call for enforcement of new LTC standards

Experts call for enforcement of new LTC standards
The Health Standards Organization released updated standards Tuesday that say residents should get at least four hours of direct care every day. The standards from the panel of experts at the non-profit standards organization also say those who work in those residences must be paid more.

Experts call for enforcement of new LTC standards

GM to invest US$650 million in Lithium Americas

GM to invest US$650 million in Lithium Americas
Lithium is a key component in batteries used by electric vehicles. In the first tranche of the investment deal, GM spend US$320 million for 15 million shares or a 9.999 per cent stake in Lithium Americas.

GM to invest US$650 million in Lithium Americas

Decriminalization starts as OD death data released

Decriminalization starts as OD death data released
Health Canada approved B.C.'s application for decriminalization through an exemption from federal drug laws so people 18 and over could carry up to 2.5 grams of opioids such as heroin and fentanyl, as well as crack and powdered cocaine, methamphetamine and MDMA. Users will not be arrested or have their drugs seized by police in what is a three-year pilot project.    

Decriminalization starts as OD death data released