Ontario Urges Bank of Canada to Lower Interest Rates to Support Job Creation

The Voice of Canada News

Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued the following statement on today’s monthly employment release by Statistics Canada.

“Ontario has added nearly 200,000 jobs this year, highlighting the resilience of our economy. However, last month’s job numbers remind us of the challenges that persist. These results, once again, underscore the need for the Bank of Canada to lower interest rates, a critical step in supporting job creation, rebuilding our economy and creating opportunities for workers across the province.

While urging the Bank of Canada to take action, our government remains focused on keeping costs down for families and workers and attracting new investments, better jobs and bigger paycheques. We continue to call on the federal government to remove its costly carbon tax, which is raising costs for hardworking families, and we will continue to support Ontario families with measures like our upcoming $200 taxpayer rebate, which will be sent to all eligible taxpayers in Ontario as well as their children. We are also continuing to make targeted investments in skills training and advancing construction on roads, highways and other critical infrastructure to support long-term economic growth.

In the face of global uncertainty, we are also working to strengthen Ontario’s trade and investment relationships worldwide. Under Premier Ford’s leadership, we’ve been actively engaging with U.S. partners to reject protectionism and champion a ‘Buy Can-Am’ approach to create jobs and opportunities for workers in both countries.

Looking ahead, our government remains focused on creating the conditions for businesses to grow, thrive and hire, while strengthening Ontario’s role as a trusted global partner in an uncertain economy.”