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

Get another COVID-19 booster in the fall, Canada's immunization panel recommends

Get another COVID-19 booster in the fall, Canada's immunization panel recommends
NACI continues to strongly recommend that anyone five years of age and older who hasn't yet been vaccinated should be immunized with a primary two-dose series of an mRNA vaccine. It also has a "discretionary recommendation" that children six months to five years of age who haven't yet been vaccinated get the two-dose primary series of an mRNA vaccine.

Get another COVID-19 booster in the fall, Canada's immunization panel recommends

Southbound surges of U.S. agents causing delays, 'disarray' at Canada-U.S. border

Southbound surges of U.S. agents causing delays, 'disarray' at Canada-U.S. border
New York Democrat Rep. Brian Higgins says Customs and Border Protection personnel are being temporarily reassigned to help fortify the U.S. border with Mexico. Higgins says as a result, busy points of entry along the Canada-U.S. border are seeing longer delays and unstaffed kiosks. 

Southbound surges of U.S. agents causing delays, 'disarray' at Canada-U.S. border

NATO leaders agree to spend at least two per cent of their countries' GDP on defence

NATO leaders agree to spend at least two per cent of their countries' GDP on defence
A statement released this afternoon in Vilnius, Lithuania, says NATO members pledge to make two per cent of GDP the minimum spend each year, with one-fifth of that going to equipment.

NATO leaders agree to spend at least two per cent of their countries' GDP on defence

As pandemic business loan repayment deadline looms, calls for extending deadline grow

As pandemic business loan repayment deadline looms, calls for extending deadline grow
The Canada Emergency Business Account program provided about 900,000 small businesses and not-for-profits up to $60,000 in interest-free loans during the pandemic. The deadline to repay these loans was extended last year to December 31, 2023 to ease pressure on businesses still recovering from the pandemic. 

As pandemic business loan repayment deadline looms, calls for extending deadline grow

Surrey shooting victim identified as Pavanbar Paul Mannan

Surrey shooting victim identified as Pavanbar Paul Mannan
IHIT investigators are identifying the victim as 29-year old, Pavanbar Paul Mannan, of Surrey, in hopes of furthering their investigation. Surrey RCMP say in a statement Mannan was found in a white Ford Edge in the alleyway north of 96 Avenue and 130 Street around 5 p.m. on Sunday, and was later declared dead at a hospital.

Surrey shooting victim identified as Pavanbar Paul Mannan

Three males arrested after threats with knives on White Rock pier

Three males arrested after threats with knives on White Rock pier
White Rock RCMP beach patrol officers were on foot nearby and gave chase along the promenade. After a short foot pursuit three males were arrested and their knives seized. Two youth males, were released from police custody with conditions and future court dates, into the care of their parents/guardians.

Three males arrested after threats with knives on White Rock pier