The Globe and Mail reports in its Wednesday, Sept. 4, edition that the Bank of Canada needs to promptly lower interest rates to stimulate growth and employment. The Globe's guest columnists Diane Bellemare and Pierre Fortin write that Canada's annual inflation rate has decreased to an average of 2.75 per cent. When the effects of rising mortgage costs are excluded, the inflation rate drops to 1.9 per cent. While this positive trend is partly due to higher interest rates, there has been significant negative impact: unemployment numbers have soared. In addition to lowering the interest rate quickly, the federal government needs to reconsider its approach to fighting inflation. Relying solely on the BOC to adjust interest rates is too costly economically and socially. Other strategies need to be explored that address the root causes of inflation, which could include implementing competitive strategies, making changes to labour market policies, and implementing budgetary and fiscal measures. To accomplish this, the government and the BOC must co-ordinate fiscal and monetary policies, and the central bank should rely more on external expertise in its decision-making process.