Bank of Canada Makes Interest Rate announcement

As expected, the Bank of Canada maintained its target for the overnight benchmark rate at 0.25% on December 9th. This is 8th and the last announcement in year of 2020

Bank of Canada announces its decision for the overnight rate target 8 times a year. The schedule for 2021 as below:

  • January 20
  • March 10
  • April 21
  • June 9
  • July 14
  • September 8
  • October 27
  • December 8

The next and first interest rate announcement in 2021 is scheduled for January 21. Most of economist believethat interest rate will stay low until at least 2022