The Globe and Mail reports in its Thursday, Dec. 21, edition that top officials at the Bank of Canada are growing more confident that interest rates are "sufficiently restrictive" to get inflation under control, according to a summary of the meeting that took place ahead of the bank's early-December rate decision. The Globe's Mark Rendell writes that the BOC's six-person governing council, led by Governor Tiff Macklem, has not ruled out further rate hikes if needed. However, the meeting summary, published Wednesday, reinforces market bets that interest rates have peaked and that the next serious debate around the governing council table will be about when to begin easing monetary policy. The summary also highlighted the bank's growing concern over shelter price inflation, and warned that "significant and sustained increase in new home construction would be needed to resolve the long-standing structural shortage in supply." Since July, the BOC has held the benchmark rate steady over three consecutive decisions. By the Dec. 6 rate decision, there was more unanimity that the current level of monetary policy was working. Desjardins's Royce Mendes sees the BOC becoming more dovish in the new year.