The central bank raised its key interest rate by a quarter of a percentage point last month to 0.50%.
Economists expect a new rate hike today, with many predicting that the Bank of Canada will raise its policy rate by half a percentage point to 1 percent.
The Bank of Canada is making changes to its key interest rate in a bid to control inflation at 2%.
According to the Statistics Canada, annual inflation rose to 5.7 percent in February from 5.1 percent in January.
Inflation data for March is expected to be announced next week.
