The Globe and Mail reports in its Thursday edition that concerns over a potential trade dispute with the United States influenced the Bank of Canada's interest rate decision. A Canadian Press dispatch to The Globe reports that on Sept. 2, the BOC held the key policy rate steady at 2.25 per cent for the seventh consecutive time, a move anticipated by economists. The BOC governing council's meetings started on Aug. 25, shortly after the U.S. imposed 50-per-cent tariffs on $28-billion of Canadian goods on Aug. 22. The move launched retaliatory actions following the BOC's rate decision, including Canadian countertariffs and planned U.S. import bans. Monetary policy-makers felt at the time that the Aug. 22 tariffs would hit targeted sectors hard but the impact on the overall economy would likely be modest. The economy and labour market showed strength before the latest tariff wave, with a recovering housing market, increasing exports and business spending, job growth in the private sector and consumers in a strong position, according to monetary policy-makers. But the deliberations show the governing council was worried a re-escalating trade dispute could put a chill on household spending, business investment and hiring.