British Columbia Premier David Eby has called on the Bank of Canada to stop any further interest rate hikes.

In a letter today to Bank of Canada Governor Tiff Macklem, Eby urged him to consider the full human impact of raising interest rates and not to increase them at this time.

The Bank of Canada is set to make a decision on interest rates at the beginning of next month.

Eby also wrote to Prime Minister Justin Trudeau, attaching his letter to Macklem and calling for a targeted approach to combat inflation, focusing on improving housing and infrastructure.

Eby's letter to Trudeau stated that a targeted approach for key sectors would have long-term benefits in combating inflation while growing the economy and improving productivity.

The letter from Eby to Macklem also included that further "unnecessary" increases in interest rates pose a risk not only to homeowners looking to renew their mortgages but also to renters, students, seniors, families, and small business owners who are looking to pay their bills, just as they began to recover from COVID-19.