The Bank of Canada expects Canadians will be “cautious” about spending money in the second half of the year, a prediction that comes shortly after others have warned consumers could be poised to pullback on holiday spending this year.

The central bank released its summary of deliberations on Wednesday.

The document sums up the talks between governors of the Bank of Canada that led to the most recent decision to cut interest rates again.

In October, the bank delivered another cut to interest rates by 25 basis points, which lowered its overnight rate to 2.25 per cent.

Consumer spending in Canada was largely resilient this year and both housing starts and resales increased since the spring, the bank said.

However, the bank also said it expects “slower per person consumption growth, c

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