The Bank of Canada's governing council is divided over the durability of the recent economic recovery, according to minutes from its July 15 policy meeting.
While the central bank held its benchmark interest rate steady at 2.25%, the deliberations reveal a lack of consensus on whether the latest growth figures signal a sustained turnaround or a temporary blip.
This internal disagreement adds nuance to the central bank's current stance.
The minutes indicate that while some officials are growing more confident in the economy's trajectory, others remain cautious about the sustainability of the rebound.
This split suggests that the path to future rate adjustments may be uneven, with policymakers likely to remain data-dependent as they assess incoming economic indicators.
The debate comes in the wake of Canada's economy expanding by 0.5% in April, the strongest monthly growth in nine months.