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Oct 23, 2023 6:58 PM - The Canadian Press

Premier Doug Ford writes to Bank of Canada to pause interest rate increase

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In the last 18 months, the Bank of Canada has increased the interest rates 10 times

Ontario Premier Doug Ford has urged the Bank of Canada not to raise interest rates further.

Doug Ford has already written a letter to Tiff Macklem.

Doug Ford wrote a letter to Bank of Canada Governor Tiff Macklem on Sunday saying that millions of people are struggling to make ends meet.

He said that the previous interest rate hikes have put a lot of burden on families and businesses, so interest rates should not be increased further.

It is worth noting that on Wednesday, the Bank of Canada will decide whether to increase interest rates or not, and two days before that, Ford wrote a letter to Macklem.

It is worth noting that in the last 18 months, the Bank of Canada has increased the interest rates 10 times.

Currently, the interest rate is 5%.

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