Canada · CAD
Bank of Canada: next decision, current overnight rate target, consensus
As of 15 September 2026.
The next Bank of Canada overnight rate target decision is scheduled for Wed 28 Oct 2026 at 13:45 UTC (09:45 America/Toronto).
The overnight rate target is currently 2.25%, as published on 02 Sep 2026.
Bank of Canada rate facts
Every value is the latest published reading FXMacroData holds. A decision date appears only after the bank publishes it, and times are shown in UTC with the market-local time where the schedule supplies one.
| Current overnight rate target | 2.25% Latest published reading, 02 Sep 2026 |
|---|---|
| Last change | Unchanged in the readings held |
| Next decision (UTC) | Scheduled · local 28 Oct 09:45 (UTC-04:00) |
| Consensus | Not published |
| Meeting frequency | ~8x/year Published cadence for this series. FXMacroData never infers a decision date from a cadence rule. |
| Official source | Bank of Canada |
The full overnight rate target history, decision by decision, is on the Canada policy rate page.
How Bank of Canada sets policy
The Bank of Canada (BoC) sets the overnight rate target at eight scheduled decisions per year. It targets the midpoint of a 1–3% CPI inflation control range and publishes a quarterly Monetary Policy Report with detailed projections and a press conference following each MPR meeting.
Common questions
When is the next Bank of Canada rate decision?
The next Bank of Canada overnight rate target decision is scheduled for Wed 28 Oct 2026 at 13:45 UTC, which is 28 Oct 09:45 (UTC-04:00) in the market's own time zone.
What is the current Bank of Canada overnight rate target?
The Bank of Canada overnight rate target is 2.25%, from the reading published on 02 Sep 2026.
How often does the Bank of Canada meet?
The overnight rate target series is published ~8x/year. FXMacroData publishes a decision date only after the bank confirms it, so a cadence never stands in for a date.
How do I get Bank of Canada decisions from the API?
Call GET /v1/announcements/cad/policy_rate for the rate series with its release timestamps, and GET /v1/calendar/cad?indicator=policy_rate for the upcoming decision date. USD is open without a key; other currencies need a subscription key.