Bank Of Canada Rate Announcements

Bank of Canada's Interest Rate Decisions

Policy Interest Rate Announcements and Monetary Report Release Schedule

The Bank of Canada (BoC) has released its schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report for 2024.

Recent Interest Rate Adjustments

The BoC has implemented several interest rate adjustments in recent months:

2023

• Overnight lending rate held steady at 5% for the sixth consecutive time since July.

2022

• Overnight lending rate held steady at 5% for the fourth consecutive time.
• Overnight interest rate cut by 25 basis points to 4.50% amid expectations of declining inflation.

Current Interest Rate Announcement

The BoC recently announced that it will maintain its key overnight interest rate at 5%, marking the third consecutive rate hold.

Conclusion

The Bank of Canada's interest rate decisions have a significant impact on the economy, influencing inflation, lending rates, and economic growth. The upcoming 2024 schedule provides businesses and households with visibility into potential changes in the monetary policy landscape, enabling them to make informed financial and investment decisions.