Skip to Main content

9.86°^C Vancouver

News Entertainment Sports Videos Podcast Contact Us

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

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

Share On

premier-doug-ford-writes-to-bank-of-canada-to-pause-interest-rate-increase

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%.

Latest news

alberta-premier-danielle-smith-welcomes-federal-budget-raises-concerns-over-immigration-changes

AlbertaNov 09, 2026

Alberta Premier Danielle Smith Welcomes Federal Budget, Raises Concerns Over Immigration Changes

Alberta Premier Danielle Smith has welcomed the latest federal budget, calling it an important step toward the province’s economic development. She particularly praised investments in major projects and tax reforms, which are expected to provide a significant boost to private-sector investment. However, Smith expressed concerns over the proposed immigration changes, saying they are being introduced without consulting the provinces. Under the federal government’s new plan, Canada will welcome 380,000 permanent residents and 370,000 temporary residents annually from 2027 to 2029. The plan al

another-storm-set-to-hit-b-c-s-coastal-regions-heavy-rain-and-strong-wind-warning-issued

Another Storm Set to Hit B.C.’s Coastal Regions, Heavy Rain and Strong Wind Warning Issued

A third powerful storm is forecast to hit British Columbia’s coastal regions, bringing strong winds and heavy rainfall from Tuesday through Thursday. According to Environment Canada, the storm will affect the North, Central and South Coasts, as well as Vancouver Island. The weather agency has forecast winds of up to 110 km/h for Haida Gwaii and northern Vancouver Island this afternoon. Heavy rainfall is also expected in several parts of the province. Although no flood warnings are currently in effect in B.C., the River Forecast Centre has maintained High Streamflow Advisories for the South a

three-arrested-after-shots-fired-inside-surrey-high-rise-condo-building

Three Arrested After Shots Fired Inside Surrey High-Rise Condo Building

Three people have been arrested following a shooting inside a high-rise condominium building in Surrey, B.C. According to the Surrey Police Service (SPS), officers responded to reports of multiple gunshots inside an upper-floor suite in a building located in the 9600-block of 136A Street at approximately 2:16 a.m. A large police presence was deployed to the scene, with officers from the New Westminster Police Department also assisting in the response. Two men and one woman were taken into custody within approximately 90 minutes of the incident. Police confirmed that no one was injured in the s

CanadaNov 09, 2026

Canada to Develop New Strategy for Foreign Espionage, Granting CSIS Expanded Powers

The Canadian government is planning to grant the country's intelligence agency, the Canadian Security Intelligence Service (CSIS), the authority to conduct espionage operations overseas. The move could mark a major first step towards establishing a separate foreign intelligence agency similar to the United States' CIA and Britain's MI6. Prime Minister Mark Carney's government announced $6 billion in additional funding for CSIS over the next 10 years in its recent federal budget. A portion of the funding is expected to be used to strengthen the agency's ability to gather foreign intelligence. C

CanadaNov 09, 2026

Canada, Philippines Set to Finalize Free Trade Agreement This Week

Canada and the Philippines could announce the conclusion of negotiations on a free trade agreement this week, marking a major milestone in relations between the two countries. Prime Minister Mark Carney arrived in Manila on Saturday as part of his international tour. He is expected to finalize the trade agreement on the sidelines of the ASEAN Summit. According to the Canadian government, the deal is expected to triple bilateral trade between the two countries by 2035. The Philippines plays a key role in Canada's Indo-Pacific strategy. The importance of the relationship is reflected in the fact

Related News

Canada to Develop New Strategy for Foreign Espionage, Granting CSIS Expanded Powers

Canada to Develop New Strategy for Foreign Espionage, Granting CSIS Expanded Powers

The Canadian government is planning to grant the country's intelligence agency, the Canadian Security Intelligence Service (CSIS), the authority to conduct espionage operations overseas. The move could mark a major first step towards establishing a separate foreign intelligence agency similar to the United States' CIA and Britain's MI6. Prime Minister Mark Carney's government announced $6 billion in additional funding for CSIS over the next 10 years in its recent federal budget. A portion of the funding is expected to be used to strengthen the agency's ability to gather foreign intelligence. C

Canada, Philippines Set to Finalize Free Trade Agreement This Week

Canada, Philippines Set to Finalize Free Trade Agreement This Week

Canada and the Philippines could announce the conclusion of negotiations on a free trade agreement this week, marking a major milestone in relations between the two countries. Prime Minister Mark Carney arrived in Manila on Saturday as part of his international tour. He is expected to finalize the trade agreement on the sidelines of the ASEAN Summit. According to the Canadian government, the deal is expected to triple bilateral trade between the two countries by 2035. The Philippines plays a key role in Canada's Indo-Pacific strategy. The importance of the relationship is reflected in the fact

Canada Allocates Nearly $30 Billion Over 10 Years to Tackle Homelessness

Canada Allocates Nearly $30 Billion Over 10 Years to Tackle Homelessness

The Canadian government has allocated nearly $30 billion in Budget 2026 to tackle homelessness across the country over the next 10 years. Under the plan, the government will invest $11.2 billion over the next four years, followed by another $17.8 billion over the subsequent six years, to help people overcome homelessness. Finance Minister François-Philippe Champagne described the initiative as one of the government's key policy priorities. Champagne said the funding aims to provide permanent housing for people experiencing homelessness, build community-based mental health and addiction treatm

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital