BoC expects to cut rates this year, governing council split on timing: deliberations

The Bank of Canada expects it will be able to cut interest rates sometime this year, but officials are split on timing.

That's according to the central bank's summary of deliberations which details the discussions governing council members had ahead of the March 6 interest rate announcement.

The summary says governing council members agreed rate cuts can begin this year if the economy and inflation evolve in line with the Bank of Canada's projections.

And while members agreed on the conditions that are needed before lowering the key interest rate, they were split on when there will be enough evidence that those conditions have been met.