BoC Sees Growing Risk That High Rates May Push Inflation Below 2%, Summary Suggests

A sign at the Bank of Canada building is seen in Ottawa on July 24, 2024. The Canadian Press/Justin Tang

Some members of the Bank of Canada’s governing council are growing concerned that high interest rates may bring down inflation by more than necessary.

The central bank’s summary of deliberations released Wednesday offers a glimpse into the council’s discussions in the lead-up to the Sept. 4 interest rate cut.