2026 decision dates
| Date | Decision | Policy rate | Also released |
|---|---|---|---|
| January 28, 2026 | Held | 2.25% | Monetary Policy Report |
| March 18, 2026 | Held | 2.25% | — |
| April 29, 2026 | Held | 2.25% | Monetary Policy Report |
| June 10, 2026 | Held | 2.25% | — |
| July 15, 2026 | Held | 2.25% | Monetary Policy Report |
| September 2, 2026 | Held | 2.25% | — |
| October 28, 2026 | Upcoming | — | Monetary Policy Report |
| December 9, 2026 | Upcoming | — | — |
Seven consecutive holds since the October 29, 2025 cut. Announcements are released at 9:45 a.m. ET.
2027 decision dates (published schedule)
| Date | Also released |
|---|---|
| January 27, 2027 | Monetary Policy Report |
| March 3, 2027 | — |
| April 28, 2027 | Monetary Policy Report |
| June 2, 2027 | — |
| July 21, 2027 | Monetary Policy Report |
| September 8, 2027 | — |
| October 27, 2027 | Monetary Policy Report |
| December 8, 2027 | — |
Schedule source: bankofcanada.ca (official schedule of fixed announcement dates).
Recent history
- October 29, 2025: cut 0.25 to 2.25% — the most recent change.
- September 17, 2025: cut 0.25 to 2.50%.
- March 12, 2025: cut 0.25 to 2.75%.
- January 29, 2025: cut 0.25 to 3.00%.
- December 11, 2024: cut 0.50 to 3.25%.
- October 23, 2024: cut 0.50 to 3.75%.
See the full verified history in our rate history chart.
Frequently asked questions
When is the next Bank of Canada rate announcement?
Wednesday, October 28, 2026, at 9:45 a.m. ET, with the quarterly Monetary Policy Report. The year's final decision follows on Wednesday, December 9, 2026.
What is the current Bank of Canada policy rate?
2.25%, unchanged since October 29, 2025. The Bank has held the rate at seven consecutive decision dates through September 2026.
How often does the Bank of Canada set rates?
Eight times a year on fixed announcement dates, roughly every six to seven weeks. Four of those dates (January, April, July, October) also come with a full Monetary Policy Report.
Will the Bank of Canada cut rates at the October 28, 2026 decision?
Most bank economists expect the Bank to hold at 2.25% through 2026, with some even discussing hikes in 2027 if inflation persists. We don't forecast — set a rate alert and we'll email you when published rates actually move.
How fast do variable mortgage rates react to a BoC decision?
Typically within days: lenders adjust their prime rates after each BoC announcement, and variable-rate mortgages priced off prime move with them.