OPINION: Government spending sprees helping fuel inflation and high interest rates
Earlier this year, premiers in Ontario, British Columbia and Newfoundland and Labrador wrote letters to Tiff Macklem, governor of the Bank of Canada, cautioning against further interest rate hikes, citing potentially negative effects on residents including homeowners with mortgages. But, instead of blaming the central bank, Canadian premiers — and the prime minister — should stop their spending sprees, which help fuel inflation and increase interest rates.
