This petition is to have the Bank of Canada Act amended so that the Bank of Canada's ability to raise the overnight lending rate on its own authority will be restricted to 25 basis points or 0.25% per financial quarter. Any increase beyond this limitation would require a parliamentary vote. 

     We are recovering from a worldwide pandemic and as a nation, we have spent a great deal of money to avoid a recession during the last 2 years. We have seen an increase in prices for most items in our stores caused by supply chain and manufacturing interruptions however the current increased price for both food and gasoline/diesel is existing without any reasonable explanation. We need real solutions for an affordable economy however allowing the Bank of Canada to resort to a 50-year-old inflation-fighting financial playbook that has caused a recession every single time it has been used will accomplish little to nothing in regards to reducing the prices of food and energy. It will however hasten the recession we have spent so much and tried so hard to avoid. Forcing homeowners to sell their homes or choose between food and utilities due to rapid and unpredictable raises in interest rates does nothing to solve the problem of unexplainable high food and energy prices.