Canada PM Trudeau says rival’s attacks on central bank ‘disappointing’ – Metro US

Canada PM Trudeau says rival’s attacks on central bank ‘disappointing’

FILE PHOTO: A sign is pictured outside the Bank of
FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa

By Julie Gordon

OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau on Thursday defended the independence of the central bank after the front-runner to win leadership of the Conservative Party said he would fire the Bank of Canada governor if elected.

“The independence of the Bank of Canada from the government of the day is a really important principle,” Trudeau told reporters when asked about Conservative leadership hopeful Pierre Poilievre’s pledge to fire the Governor of the Bank of Canada if he became prime minister.

Trudeau added Poilievre’s comments, made in a Conservative leadership debate late on Wednesday, were “somewhat disappointing in an era where we need more responsible leadership, not less.”

Poilievre is leading in all polls ahead of a September vote to replace former Conservative leader Erin O’Toole, who was ousted in February after he failed to win last year’s federal election and was criticized over his centrist policy.

For his part, Poilievre has tapped into working-class angst about the rising cost of living and frustrations over coronavirus vaccine mandates. He has repeatedly blamed the Bank of Canada’s pandemic response for runaway inflation.

“I will fire the governor of the central bank to get inflation under control,” Poilievre said on Wednesday. He previously called the Bank of Canada’s governing council “financially illiterate.”

“It’s not the bank’s role to comment on political debates,” said Paul Badertscher, director of media relations at the Bank of Canada, when asked about Poilievre’s pledge.

The Bank of Canada’s board of directors appointed Tiff Macklem governor of the central bank in mid-2020 for a seven-year term, with the approval of Trudeau’s cabinet.

(Reporting by Julie Gordon and Steve Scherer in OttawaEditing by Chris Reese and Lisa Shumaker)

More from our Sister Sites