Copilot:
How often does the Bank of Canada make a rate announcement?
The Bank of Canada typically makes eight policy interest rate announcements per year, on a fixed pre‑published schedule. These decisions are usually released at 9:45 a.m. ET and spaced roughly every 6–8 weeks.
📅 How the Schedule Works
The Bank sets eight fixed decision dates annually.
Four of those (January, April, July, October) are paired with the Monetary Policy Report.
The remaining four are standalone rate announcements.
Dates are announced well in advance—often the year before—to give markets and households clarity.
🧭 Why It Matters
These announcements influence mortgage rates, savings yields, business borrowing costs, and the Canadian dollar.
Because you’re in Québec (St‑Jean‑sur‑Richelieu), these decisions directly affect local mortgage renewals, HELOC rates, and consumer credit conditions.
If you want, I can also map out the typical timing of announcements across past years or explain how each decision tends to impact Quebec households.
When is the next one?
The next Bank of Canada rate announcement is scheduled for today, January 28, 2026, at 9:45 a.m. ET.
📅 Next Announcement Details
Date: January 28, 2026
Time: 09:45 (ET)
Event: Interest Rate Announcement + Monetary Policy Report
Frequency: One of the Bank’s eight fixed decision dates each year
Context: This is the first rate decision of 2026, and markets widely expect the policy rate to remain at 2.25%.
🧭 Why It Matters for You in Québec
Mortgage and HELOC rates across Québec—including St‑Jean‑sur‑Richelieu—tend to adjust quickly after these announcements.
The Monetary Policy Report released today will give updated projections for inflation and growth, which influence borrowing conditions for the months ahead.
If you want, I can break down what economists expect from today’s decision or how it might affect mortgage renewals in Québec.
What is HELOC?
A HELOC is a Home Equity Line of Credit — essentially a revolving credit line secured by the equity in your home. Think of it as a hybrid between a mortgage and a credit card, but with far better rates because your property backs the loan.
🏡 What “equity” means
Your equity is the portion of your home you truly own:
Equity = Home value − Mortgage balance
A HELOC lets you borrow against that equity.
🔄 How a HELOC works
You’re approved for a maximum limit (e.g., $80,000).
You can borrow, repay, and borrow again during the “draw period.”
Interest is charged only on the amount you actually use.
Most HELOCs in Canada have variable interest rates, usually tied to the lender’s prime rate.
💡 Why people use HELOCs
Renovations
Debt consolidation
Emergency funds
Investment opportunities
Education or major purchases
Because you’re in Québec, HELOCs here follow federal rules but lenders like Desjardins, National Bank, and RBC often structure them slightly differently (e.g., combined mortgage‑HELOC products).
⚠️ Key risks to keep in mind
Payments rise when interest rates rise.
Your home is collateral, so defaulting has serious consequences.
Easy access to credit can tempt overspending.
If you want, I can walk you through how HELOC limits are calculated in Canada or compare them to a traditional mortgage refinance.
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From my morning Facebook feed (I am sparing the reader the chocolate cake recipes):
Carry Trade:
https://www.facebook.com/share/v/1Aft82mhiW/
Golden Dome:
https://www.facebook.com/share/r/17wAkdqfBV/
Starshield:
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