Thread by @PresidentCLC

Yesterday, the @bankofcanada & its governor Tiff Macklem slammed Canadians with the 9th interest rate hike since January 2022. These rate hikes are an attack on working people.

We will fight back. 🧵 1/

Despite what Mr. Macklem says, this hike wasn’t inevitable. After hitting 8% last year, inflation had dropped to 4.4% by April. Canada is faring much better on inflation than many of our global counterparts & it’s not because the #BoC keeps raising the interest rate. 2/

Tiff Macklem has said that he would need an “an accumulation of evidence” that inflation was worsening before raising rates again.

This evidence doesn’t exist, but he plowed ahead anyway. #CdnPoli 3/

Maybe Mr. Macklem – with his half a million dollar salary 💰💰💰 – can’t see the devastating impact of his actions on working people? #CanLab 4/

Let’s spell it out for him:
💸 Mortgages skyrocket, drowning homeowners
🏘️ Landlords pass on cost increases, squeezing renters & risking the homes of low-income Canadians
🍽️ Basic necessities take a hit, making it a struggle to put food on the table
5/

This is the harsh reality for working people every day. Mr. Macklem should listen to them:

6/

Workers didn’t cause this inflation crisis, yet they’re shouldering the burden. Meanwhile, the true culprits – greedy corporations & their oversized profits – are left unchecked. #CorporateGreed 7/

The only way forward is for workers to come together, organize with their unions & fight back. We’re tearing down barriers to make it easier to join a union & for those unions to secure big wins for workers.

Are you with us? ✊

Yes Yes Yes
💬 🔁 ❤️