The Globe and Mail reports in its Thursday, April 17, edition that following seven consecutive interest rate cuts, the Bank of Canada paused on Wednesday, maintaining its policy rate at 2.75 per cent. The Globe's guest columnists Jeremy Kronick and Steve Ambler write that they have argued over the past few months that the BOC needed to cut the overnight rate to at least get it back to the midpoint of the neutral rate range -- where the economy is operating at potential and inflation is sustainably at the 2-per-cent target. The last cut to 2.75 per cent achieved that. With conflicting data and the on-again/off-again stance of the U.S. administration concerning tariffs, the BOC was right to pause. Former BOC governor David Dodge recently said, "There is actually a great advantage to doing nothing." The guest columnists agree. Most arguments in favour of a rate cut focused on uncertainty's impact on consumer spending and business investment. This uncertainty will make consumers think twice about spending and cause businesses to hesitate in investing, further weakening the Canadian economy. Lots of people have told the BOC to "do something." Mr. Kronick and Mr. Ambler believe it was right for the BOC to sit tight.