The Globe and Mail reports in its Wednesday edition that Bank of Canada officials agreed last month to expedite interest-rate cuts as inflation stabilized. The Globe's Mark Rendell writes that on Oct. 23, the BOC reduced its policy rate by half a percentage point to 3.75 per cent, marking the fourth consecutive cut since June, following three smaller quarter-point reductions. A summary of deliberations says: "While members considered the merits of cutting the policy rate by 25 basis points, there was strong consensus for taking a larger step. ... Members felt increasingly confident that the upside pressures on inflation will continue to decline, so policy did not need to be as restrictive. Further, members felt that a larger step was appropriate given the ongoing softness in the labour market and the need for stronger economic growth to absorb excess supply." Having pushed interest rates up 10 times in 2022 and 2023 to a high of 5 per cent to check inflation, the BOC is now trying to get borrowing costs back to a more normal level to avoid an economic downturn or more unemployment. Policy-makers expect to keep easing monetary policy, although there is no guarantee they will deliver another half-point cut in December.