The Bank of Canada’s Governing Council remains split over when they think conditions will be right to begin lowering the country’s key interest rates.
Once they begin, however, the council is in agreement that the cuts will be delivered gradually.
That’s according to the latest summary of deliberations from the Bank of Canada’s April 10 monetary policy meeting, where its six-member Governing Council unanimously voted to leave the benchmark rate unchanged at 5.00%.
The Governing Council members agreed that there had been additional progress in core inflation and in key indicators of underlying inflation.
“In its communications on the previous two interest rate decisions, Governing Council had stressed it was looking for ‘further and sustained easing in core inflation,’” the summary reads. “Members agreed that the decline in…
