Bank of Canada officials acknowledged that the decision to lower the rate by 50 basis points for the second consecutive time was a difficult choice, and some policymakers initially preferred a modest cut. Some members of the central bank's management committee suggested that a 25 basis point cut would be the best move, allowing time to assess the impact since the rate cut in June, which has led to increased consumer and Real Estate activity. "Some members suggested that the policy could remain patient until the full impact of the previous rate cuts becomes clearer," the interest rate decision review summary from the meeting on December 11 shows. Ultimately, policymakers decided to reduce the benchmark overnight rate by 50 basis points to 3.25%, as they believed that with inflation reaching 2%, economic supply being excessive, and growth prospects weakening, the monetary policy "no longer needs to be significantly restrictive."