The Globe and Mail reports in its Thursday edition that the Bank of Canada's governing council cut interest rates last month, citing concerns over a potential long trade war with the United States and its associated uncertainty. A Reuters dispatch to The Globe reports that a summary of their discussions revealed the council deliberated on the impact of prolonged trade uncertainty, noting some businesses were already mulling shifting investments to the U.S. This marked the BOC's sixth consecutive rate cut, lowering the policy rate by a quarter-per-cent to 3 per cent. "Members also agreed that the threat of tariffs had increased uncertainty, and this would weigh on business confidence and investment intentions, as well as consumer sentiment. This also supported the case for a lower policy rate," the report reads. President Donald Trump has mused hitting Canadian imports with a blanket 25-per-cent tariff, but is holding offer for now. The tariffs were ultimately paused for 30 days. The impact, however, of prolonged what-ifs on the Canadian economy, and the different scenarios tariffs and any retaliatory measures would present, meant the BOC was not comfortable providing insight on its interest rate plans moving forward.