The Globe and Mail reports in its Thursday edition that the Bank of Canada toyed with the possibility of another interest-rate cut this month in the face of a gloomier forecast for Canada's export-led economy. The Globe's Barrie McKenna writes that Governor Stephen Poloz acknowledged that he "actively discussed" the merits of what would have been a third cut since the beginning of last year ahead of Wednesday's rate decision. In the end, the BOC opted to leave its benchmark rate at 0.5 per cent, because of the "significant uncertainties" clouding the bank's economic outlook, including the tumultuous U.S. election and new mortgage insurance rules in Canada. The BOC said it is closely monitoring the effect of Ottawa's move this month to tighten lending standards and limit access to mortgage insurance for riskier borrowers. The new rules should cool resale activity in the housing market and push developers to focus on building smaller units, the bank said. The housing measures will slice as much as 0.3 per cent a year off economic growth by 2018 as resale activity and home construction take a hit, but they will also lead to "higher quality" borrowing patterns over the longer term, said Mr. Poloz.