How often and when does the Bank of Canada make interest rate announcements

How often and when does the Bank of Canada make interest rate announcements

With the recent major rate increase announcements one after the other by the Bank of Canada, many are eager to know when is the next announcement by BOC so that they can arrive at a strategic decision about their home buying or selling decision.

A general perception is that the rate announcements are made quarterly by BOC, which is not true.

BOC makes several types of announcements, one of these is about its decision on interest rate change.

The Bank of Canada publishes the schedule of rate announcements for the coming year almost halfway through the current year. For example, in July 2021, BOC announced the schedule for interest rate announcements as follows;

Wednesday, January 26*
Wednesday, March 2
Wednesday, April 13*
Wednesday, June 1
Wednesday, July 13*
Wednesday, September 8
Wednesday, October 27*
Wednesday, December 8

*These are dates when BOC publishes its monetary policy

The announcements are made at 10 am (EST).

The Bank of Canada also issues the Business Outlook Survey and Canadian Survey of Consumer Expectations.

The schedule for the above for 2022 is as follows, which is announced at 10:30 am (WST):

Monday, January 17
Monday, April 4
Monday, July 4
Monday, October 17

I hope this information would be useful for your decision-making and planning for your real estate decisions.

Whether you take a mortgage or buy cash, the interest rates in the market affect the value of the houses and the sentiments of the market.

If you have any questions or would like to discuss your unique needs and goals, please don’t hesitate to contact me at 416-908-5600. I’m here to help you find the perfect, tailor-made solution.

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