January 21st, 2022 | Housing Markets

2022 Policy interest rate announcements & Monetary Policy Reports

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Purchasing a home involves many different aspects. Today, we’ll focus on the financial one as the first interest rate announcement and quarterly Monetary Policy Report of the year are coming up next Wednesday, Jan 26th.

But what is this all about?

A Monetary Policy Report is “a quarterly report of the Bank of Canada’s Governing Council, presenting the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.” – Bank of Canada

Keeping yourself updated on the next announcements is important as it can help both Buyers and/or Homeowners better plan their next Real Estate move.

As the interest rates seem to be increasing over the next 2 years, it’s important to understand that this will directly affect the cost of borrowing (mortgage and other lendings). Therefore, whether you’re thinking of purchasing a new home or have some renovations planned on your current one, you should be looking at your rate closely when making a deal and make sure you take the right type of rate (either variable or fixed).

With this been said, below you can find this year Bank of Canada’s schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report.

Make sure to keep yourself updated and save the dates! 😉

The scheduled dates for the interest rate announcements for 2022 are as follows:

  • Wednesday, January 26*
  • Wednesday, March 2
  • Wednesday, April 13*
  • Wednesday, June 1
  • Wednesday, July 13*
  • Wednesday, September 7
  • Wednesday, October 26*
  • Wednesday, December 7

*Monetary Policy Report published

All interest rate announcements will be made at 10:00 (ET), and the Monetary Policy Report will be published concurrently with the January, April, July and October rate announcements.

Have any Real Estate related question? Make sure to get in touch with us!

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