Members agreed that the economy was weak; it was still operating in excess supply and there was slack in the labour marketThe economy was not clearly in recessionData suggested that not a great deal had changed since the Council’s last decision in AprilFlags rate cuts if US imposes new trade restrictions, hikes if energy-driven inflation spreadsMembers were of the view that, outside of energy prices, inflationary pressures were generally containedThe Bank of Canada told us all this at the post-decision press conference. This article was written by Adam Button at investinglive.com.