The BoC cut its benchmark lending rate by half a point to 3.5 percent on March 4, the biggest reduction since 2001, and has signalled further easing may be needed.
Canada has more flexibility over their interest rates compared to other countries because Canadian inflation is still below the 2% target.
Economists expect the central bank will cut lending rates by a total of 75 basis points over its next two rate meetings on April 22nd and June 10th.

Bank of Canada Governor Mark Carney has said he is concerned that the U.S. economic recovery may be slower than expected, bolstering expectations he'll cut interest rates by as much as half a percentage point this month.