Tomorrow the Bank of Canada is Expected to Raise Interest Rates

Tomorrow the BoC is expected to raise interest rates. A group of about 20 economists meets on the third floor of 234 Wellington St. in Ottawa. That affects every mortgage holder, business and person with a line of credit in the country. Unlike the U.S. Federal Reserve Board, the Bank of Canada doesn't release minutes of its meetings. Instead, the bank publishes its decision, based on consensus, and often provides details on its rationale two days later in its monetary policy report. On tuesday at 9 a.m. EST, the bank announces its key policy rate decision.