Canadians are eagerly waiting to see whether the Bank of Canada (BoC) will cut its lending rate again at its upcoming April 16 announcement.

In March, Canada’s central bank cut its lending rate by 25 basis points, bringing the rate down to 2.75%. The cut was the BoC’s second rate reduction this year, as it also cut its lending rate by 25 basis points in January.

So, will there be a third consecutive cut in 2025? According to TD Director of Economics James Orlando, the BoC could go either way and announce a rate cut or a rate hold.