Bank of Canada Interest Rate Decision
Canada · CAD · next release, past figures and how USD/CAD moved after each one. Times in UTC.
What Is BoC decision?
The Bank of Canada announces its policy rate on eight fixed dates a year at 9:45 a.m. Ottawa time, with a press conference about 45 minutes later. Four of the announcements come with the Monetary Policy Report.
The Canadian dollar reacts to the decision and its wording; oil prices and US data move it on the other days.
Read more: Fundamental Analysis in Forex.
How the Market Moved After the Last Releases
| Instrument | Typical 1h move | Typical 4h move | Largest 1h move | After a figure above estimate | After a figure below estimate |
|---|---|---|---|---|---|
| USD/CAD | 7.4 pips | 11.9 pips | 68 pips 2 Sep 2026 | – | – |
| Last 8 measurable releases. "Higher" and "lower" count how the price stood one hour after the release. Rate decisions are usually in line with the estimate, so the statement and press conference drive the move. | |||||
Release History
| Date (UTC) | Actual | Estimate | Surprise | USD/CAD 1h |
|---|---|---|---|---|
| Wed 28 Oct 2026, 13:45 UTC | 2.5% | 2.5% | 0% | +13.2 pips |
| Wed 2 Sep 2026, 13:45 UTC | 2.25% | 2.25% | 0% | −68 pips |
| Wed 15 Jul 2026, 13:45 UTC | 2.25% | 2.25% | 0% | −2 pips |
| Wed 10 Jun 2026, 13:45 UTC | 2.25% | 2.25% | 0% | −8.1 pips |
| Wed 29 Apr 2026, 13:45 UTC | 2.25% | 2.25% | 0% | +0.4 pips |
| Wed 18 Mar 2026, 13:45 UTC | 2.25% | 2.25% | 0% | −11.2 pips |
| Wed 28 Jan 2026, 14:45 UTC | 2.25% | 2.25% | 0% | +2 pips |
| Wed 10 Dec 2025, 14:45 UTC | 2.25% | 2.25% | 0% | +6.7 pips |
| Wed 29 Oct 2025, 13:45 UTC | 2.25% | 2.25% | 0% | – |
BoC decision Previews
Aisha RahmanBoC decision FAQ
When is the next BoC decision release?
The next BoC decision release is scheduled for Wed 9 Dec 2026, 14:45 UTC. Dates come from the economic calendar and can change.
How much does USD/CAD move after BoC decision?
Over the last 8 releases, the typical move in USD/CAD one hour after BoC decision was 7.4 pips, and 11.9 pips after four hours (median sizes, either direction). The largest one-hour move was 68 pips on 2 Sep 2026. Past moves are not a forecast of the next release.
What does a figure above or below the estimate mean?
The estimate is the consensus of economists' forecasts before the release. Markets price in that number, so prices react mainly to the surprise: the gap between the actual figure and the estimate, and to revisions of earlier months, rather than to whether the figure is high or low.
Related on ForexR
This week's economic calendar · Non-Farm Payrolls · US CPI · Fed rate decision · Core PCE · ISM Manufacturing · ISM Services