The Bank of Canada's decision to cut its interest rate to 2.75% on March 12 was the seventh cut in a row in recent memory. Bank Governor Tiff Macklem said the move was necessary to support the economy amid uncertainty surrounding the trade conflict with the United States. Macklem noted that despite current challenges and the introduction of US tariffs, the outlook for 2025 remains optimistic, with inflation expected to remain at the 2% target. The Bank's next meeting is scheduled for April 16, and will be particularly important to assess further action in the changing trade relationship with the United States.