Ontario Premier Doug Ford asks Bank of Canada to halt rate hikes

A second provincial premier is making a direct appeal to the Bank of Canada to stop raising interest rates.

Ontario Premier Doug Ford issued a social media post on Monday saying he had written directly to the central bank's governor Tiff Macklem the day before. He said his plea was necessary because of the toll current rates are taking on the province's families and businesses.

"Over the last 18 months, we've suffered ten interest rate hikes which have had a devastating impact on people who are already struggling to get by," the letter read.

Ford is now the second provincial leader to voice objections to further hikes after British Columbia Premier David Eby sent a similar letter to Macklem last week.