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 believe that interest rate will stay low until at least 2022.