FINANCE MINISTER CHRYSTIA FREELAND DEFENDS BANK OF CANADA AMID POILIEVRE ATTACKS
“In this environment, responsible political leadership means reinforcing for Canadians, and for the world, our government’s very clear commitment to the independence of the Bank of Canada and our confidence in the Bank of Canada.”
Pierre Poilievre, who leads in all polls ahead of a September vote to elect a new Conservative leader, has said he would turf Bank of Canada Governor Tiff Macklem “to get inflation under control” if he becomes prime minister.
Inflation inched up to 6.8 per cent in April, with food price growth hitting a four-decade high, upping the pressure on the central bank to hike interest rates quickly to avoid an inflationary spiral.
Freeland also told reporters the G7 had broadly discussed “further strengthening” sanctions against Russia, including the question of an oil and gas embargo.
“We absolutely recognize that the economic challenge of an oil and gas embargo is much greater for our European partners,” she said, adding the group had discussed ways Canada could support Europe on energy security.
Story by: Financial Post