Bank of Canada officials discussed whether to wait until July to cut interest rates, in order to confirm inflation is still on track to reach the central bank’s 2 per cent target. The bank’s six-member governing council considered waiting for more consumer price data in order to “gain further assurance” that it was time to start loosening monetary policy. Ultimately, they decided to cut the policy rate to 4.75 per cent at their June 5 meeting. A summary of those deliberations was released Wednesday. Four consecutive months of slowing underlying price pressures was “sufficient progress to warrant a first cut in the ... (full story)