'Don't take credit, give credit': political strategists' advice to feds on economy

Neither the Liberals nor the Conservatives scored political points from the Bank of Canada's interest rate cut, according to CTV's Question Period's regular panel of political strategists.

Neither the Liberals nor the Conservatives scored political points from the Bank of Canada’s interest rate cut, according to CTV’s Question Period's regular panel of political strategists.

On Wednesday, the central bank cut its key interest rate for the first time since before the pandemic, to 4.75 per cent from five, where it’d been stuck for nearly a year.

Reacting to the news, Finance Minister Chrystia Freeland this week celebrated the news, praising her government's fiscal policy for helping "create the economic conditions" for the central bank to lower its rate.

"Canada is the first G7 country where interest rates have been lowered. Our economic plan is working,” Freeland told reporters on Wednesday.

But according to the Sunday Strategy Session panel, taking credit for the cut is the wrong move.

Scott Reid, CTV News political analyst and former communications director to then-prime minister Paul Martin, said the Liberals' messaging on the rate cut is the exact opposite of good communications.

“Is it was really frustrating, because it's so tone deaf,” he said. “Look, there are three things they've got to do in this situation. One, do not take credit, give credit. That means give credit to Canadians.”