Bank of Canada decides on 28 October: the rate has been 2.25% since September
The Bank of Canada announces its decision at 9:45 a.m. Eastern Time on 28 October. The policy rate was held at 2.25% in September.
The Bank of Canada announces its policy decision on 28 October 2026 at 9:45 a.m. Eastern Time, with a press conference at 10:30 a.m., according to its calendar. The policy rate has been 2.25% since the Bank held in September (September report).
What the Bank has to weigh
Consumer price inflation was 3.0% in August (report). Employment fell by 68,000 in September and the unemployment rate rose to 6.5% (jobs report). Manufacturing sales rose in August, but flat in volume (report). Canada's GDP was flat in July, and the official August figure follows on 30 October.
What to watch
The Bank's statement will set out its view on inflation and the labour market. A weaker jobs picture makes a hold more likely; firmer inflation makes a rise more plausible. The press conference often clarifies the statement, so traders read both.
Why it matters for USD/CAD
Canada's policy rate sets the carry against the US rate. For the basics, see how to trade USD/CAD. Live prices: USD/CAD.
Sources
Common questions
When does the Bank of Canada announce its October 2026 decision?
The announcement is at 9:45 a.m. Eastern Time on 28 October 2026, with a press conference at 10:30 a.m.
What is the Bank of Canada's policy rate?
It has been 2.25% since the Bank's September 2026 decision.
This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money. Read the risk warning. Spotted an error? Tell the editors.
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