Bank of Canada Rate Decisions 2026–2027: Schedule and How They Move the Loonie

The Bank of Canada's policy rate decisions are the most important scheduled events for the Canadian dollar. Here's the 2026 calendar, where the rate stands, and how traders prepare.

2026 announcement dates

All announcements are at 9:45 a.m. ET. The Monetary Policy Report (MPR) is published with the January, April, July and October decisions.

How we got here

After raising rates aggressively in 2022–2023 to fight inflation, the Bank cut its policy rate through 2024 and 2025. In 2025 it cut in January (to 3.00%) and March (to 2.75%), paused through the spring and summer as tariff uncertainty clouded the outlook, then cut again in September (to 2.50%) and October (to 2.25%). It has held at 2.25% through every 2026 decision so far.

We update this page after each announcement. Always check the Bank of Canada for the official decision.

Why decisions move the loonie

Markets price in expected decisions well in advance, using overnight index swaps and short-term bond yields. The currency moves on surprises:

• a decision different from what was priced;
• a change in guidance — hints about future moves in the statement;
• the tone of the press conference on MPR days;
• revisions to the Bank's growth and inflation forecasts.

That's why USD/CAD can move sharply on a "no change" decision, and barely move on an expected cut.

Trading BoC days: practical points

• Spreads widen in the minutes around 9:45 a.m. ET, and slippage on stops increases.
• Two-stage reaction on MPR days: the statement at 9:45, then the press conference at 10:30 a.m. ET.
• Watch the U.S. side. Fed decisions and U.S. data on the same week can matter as much as the BoC.
• Size down or stand aside if you don't have a tested plan for event trading. See risk management.

2027 announcement dates

The Bank published its 2027 schedule in July 2026. All at 9:45 a.m. ET: