The Financial Post reports in its Wednesday, June 18, edition that Members of the Bank of Canada's governing council have differing views on the best approach to interest rates, says a summary of their discussions released on Tuesday. The Post's Jordan Gowling writes that the deliberations said: "The weaker the economy and the more downward pressure on inflation, the more there would be a need to lower the policy interest rate further. However, if the recent firmness in underlying inflation were to persist, it would be more difficult to cut the policy rate." The summary accounts for meetings that ran from May 30 until June 4, when the BOC decided to hold its policy rate at 2.75 per cent for the second time in a row. Members of the governing council expect the second quarter to be weaker as domestic demand remains subdued. In April, despite inflation coming in at 1.7 per cent, measures of core inflation were hotter than expected. The minutes said, "Members noted that measures of underlying inflation had come in higher than they expected since the beginning of the year. They agreed they would need to watch developments in inflation across CPI components carefully to gauge how inflationary pressures are evolving."