Saint John Business Alert: Critical Bank of Canada Rate Decision Expected Today

Saint John Awaits Economic Update

All eyes in the Saint John business community are turned toward Ottawa today as the Bank of Canada prepares to release its latest interest rate decision and Monetary Policy Report. Scheduled for 9:45 a.m. (ET) this morning, January 28, 2026, this announcement is expected to set the tone for the region’s economic landscape in the coming months.

For local business owners, real estate developers, and consumers in New Brunswick, the central bank’s decision on the overnight rate will have immediate implications for borrowing costs, mortgage rates, and investment planning.

Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers will host a press conference following the announcement. (Source: Bank of Canada)

What to Expect This Morning

The Bank of Canada has confirmed that the following documents and statements will be released simultaneously at 9:45 a.m. (ET):

The Rate Announcement: The official decision on the target for the overnight rate.

The Monetary Policy Report (MPR): A detailed analysis of the global and Canadian economies, including the Bank’s projection for inflation and growth.

Opening Statement: Remarks from the Governor that often provide crucial context to the decision.

Following the release, Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are scheduled to hold a press conference at approximately 10:30 a.m. (ET) to field questions from the media and provide further clarity on the Governing Council’s deliberations.

Context: Consumer Expectations

Leading up to today’s decision, the Bank released the Canadian Survey of Consumer Expectations for the Fourth Quarter of 2025 on January 19. Data from this survey, alongside the Business Outlook Survey, plays a pivotal role in informing the Governing Council’s perspective on inflation expectations and household spending power—key factors that influence today’s rate decision.

The central bank’s decisions work to promote the country’s economic stability. (Source: Bank of Canada)

Impact on Saint John

For Saint John, a port city with a mix of industrial, retail, and growing tech sectors, the cost of borrowing is a sensitive variable. A rate hold could signal stability, encouraging capital projects to move forward, while any movement—up or down—will ripple through the housing market and consumer discretionary spending.

Residents and business leaders are encouraged to review the full Opening Statement as soon as it is published to understand the rationale behind today’s move.

Frequently Asked Questions

When will the decision be announced?
The official statement and Monetary Policy Report will be released at 9:45 a.m. (ET) today, January 28, 2026.

Who is making the announcement?
The decision is made by the Bank of Canada’s Governing Council. Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers will present the opening statement.

Where can I read the full report?
The full text of the opening statement and the Monetary Policy Report will be available directly on the Bank of Canada website immediately upon release.

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