Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution’s independence.
The premiers of Ontario, British Columbia and Newfoundland and Labrador wrote to Mr. Macklem ahead of the Bank of Canada’s Sept. 6 rate decision, outlining concerns about the effects of higher rates on their residents and asking the central bank not to raise its key rate further.
