Bank of Canada officials split on rate cut timing: summary

Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.

The central bank released its summary of deliberations detailing the governing council's discussions ahead of its decision to hold interest rates steady on April 10. 

Some members felt the central bank should take its time before lowering rates, the summary said, given the Canadian economy's strong performance as well as ongoing inflationary risks.

Meanwhile, other members emphasized that inflation has slowed, and were concerned about keeping interest rates high for too long.