Bank of Canada Announcement

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Definition of 'Bank of Canada Announcement'

The Bank of Canada Announcement is a public statement released by the Bank of Canada (BoC) to provide information on its monetary policy decisions and economic outlook. The BoC is Canada's central bank, responsible for implementing monetary policy, regulating the country's financial system, and issuing currency.

The Bank of Canada Announcement is typically released eight times a year, following the BoC's regularly scheduled meetings on interest rate policy. The announcement provides information on the BoC's decision regarding the target overnight interest rate, which is the rate at which banks lend and borrow money from each other on a short-term basis.

The announcement may also include information about the BoC's outlook on inflation, economic growth, and other factors that may influence its monetary policy decisions. The BoC uses a range of economic indicators and data to assess the state of the Canadian economy and make decisions on interest rates.

Investors, analysts, and policymakers closely watch the Bank of Canada Announcement as it provides insight into the BoC's thinking on economic conditions and its plans for interest rate policy. The announcement can also have a significant impact on financial markets, including the Canadian dollar exchange rate, bond yields, and equity prices.

The Bank of Canada Announcement is typically released on the BoC's website and through news wires and financial news outlets.

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