Close X
Monday, November 11, 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

Mission stabbing victim dies of his injuries

Mission stabbing victim dies of his injuries
On Thursday, at 6:13 p.m., the Mission RCMP were called to the area of the 32500-block of Lougheed Highway. Upon arrival, officers discovered a 42-year old man, suffering from a stab wound. The victim was transported to a local hospital, where sadly, he succumbed to his injuries.  

Mission stabbing victim dies of his injuries

Sextortion on the rise in Kelowna

Sextortion on the rise in Kelowna
Mounties in Kelowna are warning about an increase of so-called sextortion targeting boys between the ages of 14 and 17. They say the victims often receive friend requests through popular social media sites, and engage in flirtatious conversations.  

Sextortion on the rise in Kelowna

Unprovoked stabbing lands tourist in hospital

Unprovoked stabbing lands tourist in hospital
The victim, a 28-year-old visitor from New Zealand, was allegedly stabbed from behind by a man not known to him, on the corner of Nelson and Granville just before 8 p.m. He took himself to hospital for non-life-threatening injuries.

Unprovoked stabbing lands tourist in hospital

B.C. residents urged to conserve water as worsening drought conditions parch province

B.C. residents urged to conserve water as worsening drought conditions parch province
Emergency Management and Climate Readiness Minister Bowinn Ma called on residents, farmers, businesspeople and industrial plant operators to take urgent steps to cut water use. 

B.C. residents urged to conserve water as worsening drought conditions parch province

Facebook rental scams: Surrey RCMP

Facebook rental scams: Surrey RCMP
Mounties say scammers advertise a property and explain that a deposit is required to secure the property due to high demand. Communication with the renter usually ends once an e-transfer of funds is sent and without the rental property being seen.

Facebook rental scams: Surrey RCMP

Vehicle crashes into Surrey home

Vehicle crashes into Surrey home
 The driver, a 21-year-old man, was arrested for Dangerous Operation of a Motor Vehicle and Flight from Police. He was treated on scene for minor injuries and released to appear in court at a later date.  Speed and dangerous driving were contributing factors in the collision. 

Vehicle crashes into Surrey home