Ontario Premier Doug Ford Asks Bank of Canada to Halt Further Rate Hikes

On Wednesday (October 25), the Bank of Canada will make an “interest rate announcement and monetary policy report.” It’s still unclear whether the Bank of Canada will maintain the current rate (5.00%) as it did in September.

What is clear is that many Canadians don’t want the interest rate to increase further. 

Doug Ford, Ontario’s premier, has lent his voice by writing a letter to the Governor of the Bank of Canada expressing his “opposition to any further rate hikes.” Like many Canadians, Ford believes that “higher interest rates are hurting people and businesses that are already struggling to pay their bills.”

Read the letter below:

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