Flaherty blasted for pressuring Manulife to reverse mortgage rate cut

OTTAWA — Finance Minister Jim Flaherty is coming under fire for using his position to pressure a private sector mortgage lender to raise its interest rates, an action that will increase borrowing costs for Canadians.

“That’s Banana Republic behaviour,” said NDP Leader Tom Mulcair, who added the minister has no business interfering with the free marketplace.

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