Bank of Canada Interest Rate Announcement Dates 2026–2027

2026 rate announcement dates

Two 2026 decisions remain: October 28, which comes with the quarterly Monetary Policy Report, and December 9. The Bank reconfirmed both dates when it published its 2027 schedule on July 27, 2026.

2027 rate announcement dates

The 2027 calendar keeps the same pattern: eight Wednesdays, roughly six weeks apart, with the Monetary Policy Report in January, April, July and October. The first decision of 2027 is on January 27 and the last on December 8.

What happens on announcement day

• 9:45 a.m. ET — the decision. The Bank posts a press release stating the target for the overnight rate (the policy interest rate) and the reasons behind it. Nothing is released earlier.
• 10:30 a.m. ET — press conference. On the dates in the published advisories, the Governor and Senior Deputy Governor take questions from journalists; it is streamed on the Bank's website.
• Monetary Policy Report days. In January, April, July and October the Bank publishes its full economic projection — growth and inflation forecasts — at the same time as the decision.
• Two weeks later — summary of deliberations. Since January 2023 the Bank publishes a summary of what Governing Council discussed before each decision, two weeks after the announcement.

Converting the time: 9:45 a.m. Eastern is 6:45 a.m. in British Columbia, 7:45 a.m. in Alberta and Saskatchewan, 8:45 a.m. in Manitoba, 10:45 a.m. in the Atlantic provinces and 11:15 a.m. in Newfoundland. From November 2026, British Columbia, Alberta and Manitoba no longer change their clocks while Ontario does, so check the offset in winter: in Vancouver, for example, a 9:45 a.m. EST announcement is at 7:45 a.m. local time.

How the decision is made

The policy rate is set by the Bank's Governing Council, chaired by the Governor. Preparation starts about a month before each date with economic data, business and consumer surveys and meetings with businesses and community groups. About a week before the decision, the council debates the options with staff; on decision day members meet privately and reach a decision by consensus.

The Bank's goal is to keep inflation low, stable and predictable, close to the inflation target it agrees with the federal government. Raising the rate makes borrowing more expensive and cools spending; lowering it does the opposite. The Bank makes its decisions independently of the government.

The fixed dates are a commitment, not a rule of nature: in exceptional circumstances the Bank has moved between scheduled dates — most recently in March 2020, at the start of the pandemic.

What a decision means for your mortgage and savings

• Prime rate. Commercial banks set their own prime rate, but in practice they move it the same day the Bank of Canada changes its rate, usually by the same amount, effective the next day.
• Variable-rate mortgages and lines of credit are priced from prime, so their interest cost changes with it. With an adjustable-rate mortgage the payment changes; with a fixed-payment variable mortgage the split between interest and principal changes instead.
• Fixed-rate mortgages follow bond yields more than the policy rate, so they can move before or after an announcement — or not at all.
• High-interest savings and GICs usually follow the policy rate with a lag.

This page shows the schedule only. It does not predict decisions. For the current rate and the full statement, read the Bank's release on the morning of each announcement.

Other Bank of Canada dates worth knowing

The surveys come out on a Monday shortly before each Monetary Policy Report decision and are closely watched as a preview of how businesses and households see inflation. The Financial Stability Report looks at risks in the financial system, such as household debt.

When the next year's schedule is published

The Bank publishes each year's announcement dates in advance, in the summer of the previous year: the 2026 schedule came out in August 2025 and the 2027 schedule on July 27, 2026. Expect the 2028 dates around mid-2027; this page will add them then.