Bank of Canada publishes its 2021 schedule for policy interest rate announcements and other major publications, makes change to effective date of rate decisions - The Industry Spread

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Bank of Canada publishes its 2021 schedule for policy interest rate announcements and other major publications, makes change to effective date of rate decisions

August 1, 2020

The Bank of Canada today published its 2021 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.

In addition, the Bank published its schedule for the release of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.

The scheduled dates for the interest rate announcements from September 2020 through December 2020 are reconfirmed as follows:

  • Wednesday, September 9
  • Wednesday, October 28*
  • Wednesday, December 9

The scheduled dates for the interest rate announcements for 2021 are as follows:

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

*Monetary Policy Report published

The Monetary Policy Report will be published concurrently with the January, April, July and October rate announcements.

Starting in 2021, the target for the overnight rate will take effect on the business day following each rate announcement. This differs from the Bank’s current approach, whereby Governing Council rate decisions apply immediately upon release. The Bank is also reviewing the publication time of its interest rate announcements, which is currently 10:00 (ET). Any changes resulting from this review will be communicated in due course.

The scheduled dates for the release of the 2021 issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations are as follows:

  • Monday, January 11
  • Monday, April 12
  • Monday, July 5
  • Monday, October 18

All survey releases will take place at 10:30 (ET).

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