Regarding your statements “It is not useful when they give instructions to the Bank of Canada as to what we should do with interest rates,”

“And that’s because it can create an impression that monetary policy is not independent of governments,” “The independence of the central bank is key to maintain price stability.”

Correct, I appreciate the importance of maintaining the central bank’s autonomy, as it plays a critical role in ensuring stability.

However, The Bank of Canada’s decisions, while striving for that stated independence, have seemingly led to significant hardship for all Canadians. The BOC has turned a blind eye and must be made aware of the reality of policy decisions. It’s essential to gather input from diverse sources to make informed decisions. While I acknowledge the difficulty in managing economic policies, it’s evident that recent actions have not fully addressed the challenges faced by ordinary Canadians
Had the BOC worked in a proactive and timely manner, Canada would not be in as dire a situation we are now.

I do not believe that anyone was working towards the goal of a urinating for distance contest, although your defensive responses and statements would indicate that you are ready to drop your trousers to prove that the BOC will not yield its independence.
Keep in mind, that while you may operate for the most part independently, you still work at the leisure of the people of Canada.
FOR the betterment of the people of Canada.

The delayed response to inflation, followed by what seemed to be a knee jerk reaction rather than a proactive approach, has left many questioning the effectiveness and the foresight of the measures taken. There appears to be a disconnect between the traditional tools employed and the modern economic landscape, leading to unintended consequences. To put that another way, the BOC waited far to long and did not recognize the dangers ahead. The BOC reacted in panic with tools and policies used 40 years ago when those tools were effective. The BOC failed to distinguish why Canada was in such an inflationary cycle. Canada was not facing supply side inflation and did not acknowledge just how different this cycle was from times past where such blunt policies were sufficient.
The BOC then moved forward in such haste to give the illusion of timely decisive action. The BOC moved blindly and late. There was no thought of evaluating the actions implemented.

The BOC blindly sought a 2% inflation rate as if it were holy grail. That was BOC past policy. As are the tools and methods you are using to achieve this rate. No where have I seen justification for an across the board quest for a 2% inflation rate. It is artificial. It is unevaluated and obviously unproven. But I digress.

As interest rate changes, as we have all been informed relentlessly in the past, take 9 – 12 months to work through the economy, I would dare say that the BOC has far overshot the end goal they seek. This will necessitate yet another knee jerk reaction once the BOC realizes its mistakes and the damage that it is needlessly inflicting upon the economy and all Canadians.

The BOC seems to be dedicated to as self fulfilling prophecy.
Inflation is high and out of control.
Rates MUST increase to tame this high inflation.
The BOC policies themselves give greater weight to the inflationary circle.
Canadians must pay for the inflationary pressures caused by the BOC’s own policies.
The recent BOC decisions are causing the inflation Canada is experiencing.

Please, Mr. Macklem, I will happily give Mr. Westin and Mr. Sobey the extra $300.00 / month they demand so I can feed my family…if the BOC would allow me to recoup the additional hundreds or thousands I must pay for the cost of housing.

Canadians need the BOC to be a part of the solution for inflation, not to continue as part of the cause of that inflation.