The Financial Post reports in its Friday edition that some members of the Bank of Canada's governing council mulled cutting the policy rate by 25 basis points but decided to hold it at 2.75 per cent. The Post's Jordan Gowling writes that this decision followed seven consecutive rate cuts since June, 2024. Governor Tiff Macklem mentioned the need for clarity on U.S. tariffs, especially after President Donald Trump delayed on some tariffs that had raised concerns in financial markets. The summary of the deliberations said: "Some members took the view that with the economy on solid footing coming into 2025, and with the cuts to the policy interest rate at the past two meetings, Governing Council should keep the policy interest rate unchanged while they gained more information on tariffs and their impacts. Continuing to lower the policy interest rate at this meeting could end up being premature in a context where past cuts were still working their way through the economy and where upward pressure on inflation from tariffs could come through quickly." Some members viewed the recent decline in business and consumer confidence, along with trends in the job market, housing and retail trade, as indicators of a weakening economy.