Bank of Canada to announce interest rate decision Wednesday

The Bank of Canada is set to announce its latest decision on the country’s key interest rate Wednesday morning.

The announcement is scheduled for 11:15 a.m. Newfoundland Time on Sept. 2.

The central bank will release its decision on the target for the overnight rate.

The interest rate decision will be closely watched by homeowners, borrowers, businesses and investors as the central bank weighs economic conditions and inflation.

The Bank of Canada’s overnight rate influences borrowing costs across the economy, including variable-rate mortgages and other forms of credit.