Eight times a year, the Bank announces its decision on the setting of its key policy interest rate (the overnight rate target). Members of the Bank's Governing Council observe a communications "blackout" around the announcement of the interest rate decision. This "blackout" (or "no-comment") period is intended to help mitigate unnecessary speculation about monetary policy actions. During the blackout, Governing Council members refrain from giving speeches and from speaking to the news media or other outside parties about the economic outlook and the direction of monetary policy, or about anything else that could be considered relevant to the economic outlook and their interest rate decision. Other senior representatives of the Bank are also expected to adhere to the blackout guidelines.
The key policy rate decision is published on a Wednesday at 10:00 Eastern Time.