When Google released the well overdue Penguin 3.0 back in October of last year, we thought that would bring a faster running and more regularly and frequently updated refreshes to the algorithm. But the truth is, we have not seen an update to Penguin since early December - so for about three months now. Prior to that, it was over a year since we had a Penguin update.
Josh in a Google+ hangout asked John Mueller about that and John said at 20:54:
At the moment, I don’t think its [Google Penguin] is on a monthly schedule. So we’re trying to get that to be more regular but at the moment, it’s not something that is rolling out monthly.
He is probably right, if there was a Penguin refresh, I would have seen it and tracked it, just like with Panda not updating.
When will we see a Penguin refresh? I have no idea. When will we see a Panda refresh? I have no idea.
Here is the video at the start of the question:
Forum discussion at Google+.