“With the fall in the inflation rate and the direct impact of Donald Trump’s prices on Canadian workers, the Canada Bank must lower interest rates now so that our economy can continue to grow and that our workers keep their jobs,” said Prime Minister Ford on social networks on Tuesday morning.
He published this message in reaction to recent data from Statistics Canada, indicating that consumer prices increased an average of 1.7% from one year to July across the country, 0.2% less than the previous month.
This is not the first time that Ontario Prime Minister has criticized the Canadian Central Bank’s decision to maintain the key rate.
“I am shocked by this decision,” reacted Doug Ford on July 30, when he learned that the rate would be maintained at 2.75%.
The Governor of the Bank of Canada, Tiff Macklem, had responded to Mr. Ford’s calls saying that the decision was not political and that the bank would ensure that a problem of customs prices “does not turn into inflation problems”.
The Canadian Central Bank has maintained this key rate since March.
The interest rate is used by mortgage companies and lenders to calculate their reimbursement costs.
In Washington DC, US President Donald Trump explicitly called the US Central Bank to lower its rates, in particular to reduce interest charges of the United States government.
