The Globe and Mail reports in its Thursday, July 30, edition that the Bank of Canada's governing council were divided on the sustainability of a recent economic rebound, as shown in talks prior to their July 15 rate decision to keep the benchmark interest rate at 2.25 per cent. A Canadian Press dispatch to The Globe reports that the released minutes indicate growing confidence in the economy during the second quarter after a year of flat growth. Business surveys and a rise in exports indicated that firms were adjusting to tariffs and ongoing trade uncertainty from the U.S. The BOC's July rate decision and forecasts occurred before Washington's threat of 50-per-cent tariffs on various Canadian goods, with the governing council noting that new United States tariffs posed a persistent downside risk to growth. The BOC expects real gross domestic product rose 2.5 per cent on an annualized basis last quarter, and is forecasting modest growth to continue through the second half of the year and into 2027. Monetary policy-makers were "confident" about the second quarter rebound, "but there was a range of views among governing council members about the sustainability of the rebound beyond the near term."