Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts. In a summary of the deliberations that led to the central bank’s decision to hold its key policy rate at 5% on April 10, members of the six-person governing council noted they had been looking for “further and sustained easing in core inflation.” They agreed the deceleration in underlying price pressures in January and February satisfied the “further” element of their conditions, and they wanted to see this progress “sustained,” according to the summary released on Wednesday. Last week, ... (full story)