Premier Andrew Furey makes no apologies for providing the Bank of Canada governor with some facts and context around the impact of high interest rates on Newfoundlanders and Labradorians.
In fact, since receiving a “warning” about his first letter, Furey has fired off another.
Furey sent the first one in early September, citing extreme financial pressures in the province, and how it would only get worse if interest rates were to rise again.
That was followed by the warning from Bank of Canada Governor Tiff Macklem, saying “instructions or requests from elected officials” could undermine the independence of the bank.
Undeterred, Furey sent a response yesterday with the same message, noting he has no authority to instruct the governor.
“He doesn’t report to me. I don’t govern him. I have a job to make sure that the voices of Newfoundlanders and Labradorians are heard and I think that we did that with respect to writing him,” said Furey. “It’d be different if I was the Prime Minister. Then I would be telling him what to do.”
There’s no word yet as to how the premier’s response was received by the Bank of Canada governor.