The Financial Post reports in its Thursday, Dec. 12, edition that Rosenberg Research & Associates founder David Rosenberg says, "The Bank of Canada 100 per cent did the right thing today by cutting its policy rate 50 basis points once again." The Post's Gigi Suhanic writes that Mr. Rosenberg thinks the BOC will and needs to keep cutting and disputes any assessment of its statement on future rate moves as "hawkish." Policy-makers replaced a line guaranteeing further rate reductions from its statement and said they will be taking each rate meeting "one decision at a time," making it tough for markets to place bets on where rates are headed. Mr. Rosenberg says: "But what is more important is the final destination, not the path itself. Governor Macklem snuck into (his) press conference a remark that, 'We anticipate a more gradual approach to monetary policy if the economy evolves broadly as expected.'" Ultimately, Mr. Rosenberg says the message that rates are headed downward still stands. He says the BOC issued a "crucial message" by saying the economy is still in "excess supply," meaning demand is coming up short of output. He thinks the BOC rate will come to rest at 2 per cent, possibly lower.