The Globe and Mail reports in its Friday, March 27, edition that Bank of Canada Governor Stephen Poloz expects below par economic growth in the first quarter, but he has his "fingers crossed" about the second quarter. The Globe's Barrie McKenna writes that Mr. Poloz says economic growth could miss the BOC's own 1.5-per-cent forecast for the first three months of the year, but that does not necessarily mean another rate cut on April 15. Mr. Poloz says the bank would need to see more evidence of cheap oil's destructive effects before considering another dose of interest-rate relief -- what he calls "insurance." A weaker-than-expected first quarter would not "necessarily change our thinking about that insurance question," says Mr. Poloz. "What we need is a longer string of evidence to sort that out." Mr. McKenna says most analysts say a rate cut next month looks increasingly unlikely. Unless conditions change, "the bank doesn't appear to be itching to cut rates further," says Bank of Montreal economist Benjamin Reitzes. TD economist Randall Bartlett now expects the bank to keep interest rates unchanged until late next year. Beyond the first quarter, Mr. Poloz is upbeat about the rest of the year.