Chris Ragan on Why Central Bank Independence Matters Amid Political Pressure | The Financial Post

August 8, 2025 | Christopher Ragan was quoted by The Financial Post in the context of Ontario Premier Doug Ford publicly urging the Bank of Canada to cut interest rates鈥攁 move the article compares to Donald Trump鈥檚 public pressure on the U.S. Federal Reserve. Ragan emphasized that central bank independence from 鈥渄ay-to-day politics鈥� is crucial for maintaining market and economic confidence. He argued that if politicians want to criticize the Bank of Canada鈥檚 stance on interest rates, the responsibility falls on them to clearly explain why lower rates would better achieve the bank鈥檚 primary objective of low and stable inflation. In line with the article鈥檚 broader concern about political interference in monetary policy, Ragan鈥檚 comments reinforce the importance of insulating the Bank of Canada鈥檚 decisions from political pressure.