Bank of Canada Interest Rate Announcement Schedule 2012
The Bank of Canada key interest rate announcement schedule for 2012 is:
17 January
8 March
17 April
5 June
17 July
5 September
23 October
4 December
Tomorrow will be the first announcement of 2012 This may give us an indication of the direction of the Canadian prime rate and Canadian mortgage rates in the near future. Most analysts expect no change in the prime rate Canada tomorrow. Check back after 9AM to see the latest Bank of Canada interest rate announcement.
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The next Bank of Canada interest rate announcement is coming September 7, 2011. While an interest rate hike has been pretty much ruled out, it’s possible there may be a cut in the Bank of Canada prime rate on that date. Mortgage rates are fluctuating with some variable rates rising at certain institutions. Check back again on the 7th for the latest update.
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No Bank of Canada Interest Rate Hike This Year?
Just a few weeks ago the Bank of Canada was expected to raise interest rates in September. This appears to be off the table now with all the recent economic turmoil in the U.S. and Europe. In fact, a rate decrease may be coming due to the recent interest rate freeze announced in the U.S. An interest rate cut however could lead to lower mortgage rates and tempt homebuyers to borrow beyond their limits.
In fact, 5 year fixed mortgage rates are now at the lowest rate seen in quite a while and could go lower. This is good news for those who would like to lock in a great rate, but the big question is when to act. Check out the current mortgage interest rates by clicking on the rate table below.
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Bank of Canada Interest Rate Announcement Next Week
The next Bank of Canada interest rate announcement will be Tuesday July 19 at 9AM. Please check back at that time to see if there will be an increase in the Canada prime rate.
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The Bank of Canada will make an interest rate announcement tomorrow, Tuesday January 18 at 9:00 AM. Please check back at that time for the latest Canada prime rate numbers.
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