BOC minutes: Members agreed the economy was weak

Members agreed that the economy was weak; it was still operating in excess supply and there was slack in the labour market
The economy was not clearly in recession
Data suggested that not a great deal had changed since the Council’s last decision in April
Flags rate cuts if US imposes new trade restrictions, hikes if energy-driven inflation spreads
Members were of the view that, outside of energy prices, inflationary pressures were generally contained

The Bank of Canada told us all this at the post-decision press conference.

This article was written by Adam Button at investinglive.com.