The Bank of Canada's governing council stressed that the inflation outlook was subject to more uncertainty than usual. Photo by BRUNSWICK NEWS

Bank of Canada policymakers believe that inflationary risks to Canada’s economy may have diminished, but are not entirely gone, according to a summary of the governing council’s most recent deliberations released on Wednesday.

“Members stressed that while the upside risks had diminished, they had not gone away,” the summary said. “Trade disruptions implied new costs. How big these costs would be, when and where they might materialize, and what they could mean for inflation all remained uncertain .”

The deliberations came in the lead-up to the central bank’s decision to cut its interest rate to 2.5 per cent on Sept. 17, the first trim since

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