The Bank said members judged the recovery was broadening, but the economy still had excess supply and a soft labour market. The summary covers discussions leading to the September 2 decision; it is not a new interest-rate announcement.
Members identified new U.S. tariffs and renewed trade uncertainty as threats to growth. They also worried that persistently expensive energy and reduced refinery capacity could spread gasoline and diesel inflation to other prices, although evidence of broader pass-through remained limited.
Council said it would monitor the recovery and inflation risks. The record does not establish what the Bank will decide at its next meeting.
