Bank of Canada rate announcement dates 2026–2027
Next rate decision: Wednesday, October 28, 2026, 9:45 a.m. ET (with the Monetary Policy Report).
Every scheduled decision date for 2026–2027, today's policy and prime rate, what the Bank decided at each meeting this year, and every change since 2020 — all read daily from the Bank of Canada, so this page is current without anyone editing it.
September 2, 2026: The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Read the Bank's statement
2026–2027 announcement calendar
All announcements are at 9:45 a.m. ET. MPR marks the four dates that also bring the Monetary Policy Report. Past dates link to the Bank's press release.
| Month | Announcement date | Day |
|---|---|---|
| 2026 | ||
| January | January 28, 2026 MPR | Wednesday |
| March | March 18, 2026 | Wednesday |
| April | April 29, 2026 MPR | Wednesday |
| June | June 10, 2026 | Wednesday |
| July | July 15, 2026 MPR | Wednesday |
| September | September 2, 2026 | Wednesday |
| October | October 28, 2026 MPR | Wednesday |
| December | December 9, 2026 | Wednesday |
| 2027 | ||
| January | January 27, 2027 MPR | Wednesday |
| March | March 3, 2027 | Wednesday |
| April | April 28, 2027 MPR | Wednesday |
| June | June 2, 2027 | Wednesday |
| July | July 21, 2027 MPR | Wednesday |
| September | September 8, 2027 | Wednesday |
| October | October 27, 2027 MPR | Wednesday |
| December | December 8, 2027 | Wednesday |
Source: Bank of Canada, schedule for policy interest rate announcements, checked October 22, 2026. The Bank publishes each year's calendar about a year ahead; new years are added here automatically.
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Timed for 9:45 a.m. ET in your own time zone, with the Monetary Policy Report days marked. Next year's schedule is added the day the Bank publishes it.
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What the Bank decided at each 2026 meeting
| Date | Decision | Policy rate after | Statement |
|---|---|---|---|
| September 2, 2026 | Hold | 2.25% | Press release |
| July 15, 2026MPR | Hold | 2.25% | Press release |
| June 10, 2026 | Hold | 2.25% | Press release |
| April 29, 2026MPR | Hold | 2.25% | Press release |
| March 18, 2026 | Hold | 2.25% | Press release |
| January 28, 2026MPR | Hold | 2.25% | Press release |
Every policy rate change since 2020
The rate went from the pandemic floor to a peak of 5.00% on July 13, 2023, and has been cut 9 times since, to 2.25% today. Dates on which the Bank held the rate are not listed; only changes are.
| Date | Move | From | To |
|---|---|---|---|
| October 30, 2025 | Cut -0.25 | 2.50% | 2.25% |
| September 18, 2025 | Cut -0.25 | 2.75% | 2.50% |
| March 13, 2025 | Cut -0.25 | 3.00% | 2.75% |
| January 30, 2025 | Cut -0.25 | 3.25% | 3.00% |
| December 12, 2024 | Cut -0.50 | 3.75% | 3.25% |
| October 24, 2024 | Cut -0.50 | 4.25% | 3.75% |
| September 5, 2024 | Cut -0.25 | 4.50% | 4.25% |
| July 25, 2024 | Cut -0.25 | 4.75% | 4.50% |
| June 6, 2024 | Cut -0.25 | 5.00% | 4.75% |
| July 13, 2023 | Hike +0.25 | 4.75% | 5.00% |
| June 8, 2023 | Hike +0.25 | 4.50% | 4.75% |
| January 26, 2023 | Hike +0.25 | 4.25% | 4.50% |
| December 8, 2022 | Hike +0.50 | 3.75% | 4.25% |
| October 27, 2022 | Hike +0.50 | 3.25% | 3.75% |
| September 8, 2022 | Hike +0.75 | 2.50% | 3.25% |
| July 14, 2022 | Hike +1.00 | 1.50% | 2.50% |
| June 2, 2022 | Hike +0.50 | 1.00% | 1.50% |
| April 14, 2022 | Hike +0.50 | 0.50% | 1.00% |
| March 3, 2022 | Hike +0.25 | 0.25% | 0.50% |
| March 27, 2020 | Cut -0.50 | 0.75% | 0.25% |
| March 16, 2020 | Cut -0.50 | 1.25% | 0.75% |
| March 4, 2020 | Cut -0.50 | 1.75% | 1.25% |
Source: Bank of Canada Valet API, target for the overnight rate (series V39079) and prime rate (V80691311), read October 22, 2026.
What a decision does to your money
Variable-rate mortgages and HELOCs are priced off prime, and the banks move prime by the same amount as the policy rate, usually within a day. On a $500,000 balance at prime minus 0.50% (3.95% today), a quarter-point move is about $68 a month on a 25-year amortization. See the HELOC calculator and the current mortgage rates.
Fixed mortgage rates follow Government of Canada bond yields, not the overnight rate directly, so they often move before an announcement, on what the market expects. If you are renewing, the renewal guide and the penalty calculator cover the switch-or-stay decision.
GICs and savings accounts drift the other way: cuts pull high-interest savings rates down within weeks and shorten the window to lock a GIC. Our GIC and savings rates refresh daily, and the GIC ladder calculator shows how to spread the timing risk. Retirees drawing from cash should read this alongside the retiree cash strategy.
The Bank Rate and deposit rate quoted in each statement sit a quarter point above and slightly below the target: they are what the Bank charges and pays financial institutions overnight, and they move in lockstep.
What the Bank is reacting to is inflation: it targets 2% on total CPI and steers by its core measures. This month's CPI, the core measures and the next release date are on our Canada inflation rate page.
Frequently asked questions
When is the next Bank of Canada interest rate announcement?
Wednesday, October 28, 2026, at 9:45 a.m. Eastern time, together with the quarterly Monetary Policy Report. That is 6 days away. The full 2026–2027 schedule is in the table above, straight from the Bank's published calendar.
What is the Bank of Canada policy rate right now?
The target for the overnight rate is 2.25%, unchanged since October 30, 2025. The Bank's latest decision (September 2, 2026): The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.
What is the prime rate in Canada today?
The chartered-bank prime rate is 4.45%, in place since November 5, 2025. Prime sits 2.20 points above the policy rate, and the big banks normally move it within a day or two of a Bank of Canada change. Variable-rate mortgages and HELOCs are priced off prime, which is why the announcement dates matter to borrowers.
How many rate announcements does the Bank of Canada make each year?
Eight, on fixed dates published a year in advance, always at 9:45 a.m. ET. Four of them (January, April, July and October) come with the Monetary Policy Report, the Bank's inflation and growth forecast, which is where the biggest changes in tone tend to land. 2 announcements remain in 2026.
What time is the Bank of Canada announcement?
The decision is released at 9:45 a.m. Eastern time on each scheduled date. On Monetary Policy Report days the Governor holds a press conference at 10:30 a.m. ET. Lenders typically adjust prime by the end of that day or the next business day.
When did the Bank of Canada last change its rate?
October 30, 2025, a cut from 2.50% to 2.25%. The policy rate peaked at 5.00% on July 13, 2023 and has been cut 9 times since. The full list of changes since 2020 is on this page.
Will the Bank of Canada cut rates at the next meeting?
We do not forecast rate decisions, and no one outside Governing Council knows the answer before 9:45 a.m. on October 28. What you can do is read the Bank's own reasoning in its latest press release and Monetary Policy Report (linked above), and run your own numbers: the mortgage pages on this site show what each quarter-point move does to a variable payment or a renewal.
How much does a quarter-point change move a variable mortgage payment?
Roughly $68 a month on a $500,000 balance with a 25-year amortization, using a variable rate of prime minus 0.50% (3.95% today). That is an illustration, not a quote: your lender's discount, balance and amortization change the number, and adjustable-rate mortgages change the payment while fixed-payment variables change the share going to interest instead.
Rates, dates and decision text on this page are read daily from the Bank of Canada. We do not forecast decisions. This page is for information only and is not financial advice.
Live from the source, refreshed daily
Read every morning from Service Canada, Statistics Canada, the Bank of Canada and the CRA, and again at 11 a.m. ET on weekdays. Published figures only, no estimates.
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