Bank of Canada interest rate announcement and release of the Monetary Policy Report

OTTAWA – On Wednesday, January 29, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. 

Time

09:45 (Eastern Time)

Lock-Up

At 07:00 (ET), journalists are invited to review the rate announcement press release and the MPR, under embargo, at the Bank’s head office in Ottawa. Please use the Bank of Canada Museum entrance, located at 30 Bank Street (corner of Bank and Wellington), and bring photo ID. 

For security reasons, journalists wishing to attend must confirm their presence by contacting Media Relations before noon (ET) on Tuesday, January 28, 2025. Those who have not registered will not be admitted to the lock-up.  

At 09:45 (ET), the lock-up ends and the embargo is lifted.

Media Briefing Session

At 08:30 (ET), senior Bank officers will provide background information and respond to questions on the content of the MPR. Information gathered at the session may be used freely in news reports and commentaries, provided it is not attributed to the Bank or its officers. Electronic recording is not permitted.

Distribution

The rate announcement press release and the Monetary Policy Report will be available at 9:45 (ET) on the Bank’s website.

Media Availability

At 10:30 (ET), Tiff Macklem, Governor of the Bank of Canada, and Carolyn Rogers, Senior Deputy Governor, will hold a press conference in the Bank of Canada’s auditorium. The opening statement will be available on the Bank’s website at 9:45 (ET). 

For security reasons, all media wishing to attend must register with the Bank in advance.To register, please contact Media Relations before 17:00 (ET) on Tuesday, January 28, 2025. Journalists, camera operators and still photographers who have not registered will not be admitted to the press conference. 

Please use the Bank of Canada Museum entrance, located at 30 Bank Street (corner of Bank and Wellington), and bring photo ID. 

Broadcasters needing to set up equipment will be granted access beginning at 9:45 (ET). 

Please note that journalists not attending the press conference in person can register to dial in and ask questions. Journalists who would like to ask questions via teleconference should contact Media Relations.

Webcast

Audio and video webcasts of the press conference will be accessible from the Bank’s website.

Note

For more information, please contact Media Relations.