BOC Meeting Schedule (BOC calendar 2021)

Bank of Canada, with acronym BOC is the Canadian’s Central bank that administers the country’s monetary policies. The Bank of Canada’s announcements informs Canadians about the interest rates and other financial policies of the government.

Want to know more about the BOC meeting schedule for 2021? Read on to find out! But before we dive deeper, let’s throw more light on the activities of the Bank of Canada.

The nearest BOC release
March 08-22, 2021

A Little Bit More About BOC

BOC Meeting Schedule

BOC was established in line with the Bank of Canada Act of 1934. The Act clearly stated that the BOC was established to promote the economic and financial welfare of Canada.” The Bank of Canada and its governing council are responsible for printing money, setting monetary policies, as well as determining the country’s interest rate.

The responsibility of the Bank of Canada is broadly categorized into four major areas:

  • Monetary policy: The Bank of Canada is statutorily mandated to dictate the supply of money circulating in the economy.
  • Currency: The BOC is also the sole issuer of Canadian banknotes. The bank is also responsible for funds management.
  • Public Debt: The Bank of Canada is also responsible for managing the federal government’s foreign reserves and public Debt.

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BOC Meeting Schedule 2021

July15 Interest rate announcement and Monetary Policy Report July15 Interest rate announcement and Monetary Policy Report July15 Interest rate announcement and Monetary Policy Report February August.

(BOC Meeting calendar)
Month Date Time Financial Event
January 11 06 PM Regular Meeting
January 25 04 PM Work Session
February 08 06 PM Regular Meeting
February 22 04 PM Work Session
March 08 06 PM Regular Meeting
March 22 04 PM Work Session
April 26 06 PM Regular Meeting
April 15 04 PM Work Session
May 10 06 PM Regular Meeting
May 24 04 PM Work Session
June 14 06 PM Regular Meeting
June 28 04 PM Work Session
July 12 06 PM Regular Meeting
July 26 04 PM Work Session
August 09 06 PM Regular Meeting
August 23 04 PM Work Session
September 13 06 PM Regular Meeting
September 27 04 PM Work Session
October 11 06 PM Regular Meeting
October 25 04 PM Work Session
November 08 06 PM Regular Meeting
November 22 04 PM Work Session
December 13 06 PM Regular Meeting
December 20 04 PM Work Session

 

The BOC and the Interest Rate

Setting the interest rate is one of BOC’s most important roles. Canada’s monetary policy framework is designed to keep inflation low and stable. The interest rate is decided eight times a year.

In 2007, the interest rate was above 4 percent before being lowered, over time, to 1 percent in 2010. The rate was cut twice in 2015 to 0.5 percent. Since 2015, this rate has risen three times to 1.25 percent as of April 28, 2018.

This rate is the interest charged when banks lend money to each other. The BOC generally imposes rate cuts to boost the economy.

And that wraps it up. You now know the responsibilities of the Bank of Canada and the BOC meeting scheduled for 2019.

What do you think about the BOC meeting dates? Share your thoughts with us using the comment box below.

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