The Bank of Canada announces its decision on interest rates on eight scheduled dates per year. The decision is announced via a press release at 10:00 am on each of the pre-selected dates. The goal of adjusting interest rates is to combat inflation; if inflation is too high, the Bank will elect to increase interest rates to slow down borrowing and spending. If inflation is low, the Bank will lower interest rates to stimulate the economy by lowering the cost of borrowing and making mortgages and loans more accessible to the public.