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Financial Post: Flaherty blasted for pressuring Manulife to pull low-rate mortgage

Blog by Brad Herman | March 20th, 2013

OTTAWA • Insisting that he will not tolerate a “race to the bottom” on mortgage rates, Finance Minister Jim Flaherty has succeeded in pressuring Manulife Bank to cancel its plans to offer consumers a lower interest rate on its five-year-fixed mortgage. The intervention drew fire Tuesday from critics, inside and outside the House of Commons, accusing the minister of manipulating market prices.