The Canadian Bank (BOC) revealed the minutes of the meeting on April 16, which showed that the Council was divided on whether to reduce the tariffs or keep them unchanged.
Main highlights:
All BOC members agreed to keep a specific study and information plan to better understand how the economic adaptation was.
The members agreed that they should be less than usual.
Although there were differences in the views, everyone agreed that there was a lot of uncertainty and the situation could change rapidly.
Members of BOC, who are not in favor, wanted more information about US tariffs, supporting waiting and looking at the approach.
They felt that another paragraph could be premature, giving the tariffs to the pressure of inflation quickly.
BOC members who favored the cuts said the bank had flexibility to reduce interest rates even further until the expectations of medium and long-term inflation are stuck.
They quoted that the short -term risks and signs that the economy would weaken.
They added that the need for timely action was highlighted, taking into account the spread of monetary policy measures to the economy and inflation.
