Posted 10/22/2023, 4:19:28 PM
Ontario Premier Calls for Pause on Interest Rate Hikes Amid Inflation Slowdown
- Ontario Premier Doug Ford asks Bank of Canada to pause interest rate increases
- Ford says rate hikes are putting pressure on families and businesses
- Letter comes ahead of Bank's rate decision on Wednesday
- Bank has raised rates 10 times since March 2022 to tame inflation
- In September, Bank left rate unchanged at 5% as inflation dropped to 3.8%
- Ford also wrote to PM Trudeau to address inflation and supply chains