# 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.

- Canonical URL: https://forextradingcommunity.com/news/boc-october-2026-decision-preview/
- Type: Preview
- Published: 2026-10-27
- Updated: 2026-10-27
- Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team
- Currencies: CAD

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](/news/bank-of-canada-holds-2-25-september-2026/)).

## What the Bank has to weigh

Consumer price inflation was 3.0% in August ([report](/news/canada-cpi-august-2026/)). Employment fell by 68,000 in September and the unemployment rate rose to 6.5% ([jobs report](/news/canada-jobs-report-september-2026-employment-falls-68000/)). Manufacturing sales rose in August, but flat in volume ([report](/news/canada-manufacturing-sales-august-2026/)). 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](/news/how-to-trade-usd-cad/). Live prices: [USD/CAD](/markets/usd-cad/).

## Sources

- [Bank of Canada: Schedule of policy rate announcements, 2026](https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/)

## 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.

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This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money.