Federal Finance Minister Chrystia Freeland issued a rare public response to the Bank of Canada's interest rate decision on Wednesday.
"The Bank of Canada's decision to maintain its overnight interest rate is welcome relief for Canadians," said Freeland in a media statement. She also made a point of reasserting the central bank's independence.
Her statement follows a week when the bank faced rare and public political pressure from three premiers who urged it to forgo further interest rate hikes. "It's time for Justin Trudeau, whose government sets the mandate for the Bank of Canada, to clearly give the message that policies that hurt workers and hurt families are wrong," said NDP Leader Jagmeet Singh during a caucus retreat Wednesday morning in Ottawa.
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