The Bank of Canada
The Bank of Canada is the nation’s central bank. Its principal role is “to promote the economic and financial welfare of Canada,” as defined in the Bank of Canada Act. The Bank’s four main areas of responsibility are:
Bank of Canada and Key Interest Rates
Policy Interest Rate
2.75%
Benchmark Rate
5.25%
Prime Lending Rate
4.95%
***Rates are subject to change at anytime. The Bank of Canada has a set schedule for interest rate adjustments.***
Interest Rate Announcement Schedule
The Bank of Canada’s schedule for policy interest rate announcements and quarterly Monetary Policy Reports.
The scheduled announcement dates are as follows:
| Dates | Publications |
|---|---|
| January 24 | Interest rate announcement and Monetary Policy Report |
| March 6 | Interest rate announcement |
| April 10 | Interest rate announcement and Monetary Policy Report |
| June 5 | Interest rate announcement |
| July 24 | Interest rate announcement and Monetary Policy Report |
| September 4 | Interest rate announcement |
| October 23 | Interest rate announcement and Monetary Policy Report |
| December 11 | Interest rate announcement |
| Dates | Publications |
|---|---|
| January 29 | Interest rate announcement and Monetary Policy Report |
| March 12 | Interest rate announcement |
| April 16 | Interest rate announcement and Monetary Policy Report |
| June 4 | Interest rate announcement |
| July 30 | Interest rate announcement and Monetary Policy Report |
| September 17 | Interest rate announcement |
| October 29 | Interest rate announcement and Monetary Policy Report |
| December 10 | Interest rate announcement |
All rate announcements will be made at 10:00 (ET), and the Monetary Policy Report will be published concurrently with the January, April, July and October rate announcements.
Bank of Canada News and Announcements
BoC Held at 2.25% Again : Here’s What the September 2026 Decision Means for Your Mortgage Renewal
On July 15, 2026, the Bank of Canada (BoC) announced its sixth consecutive interest rate hold, keeping the policy rate at 2.25%. This decision signals a continued period of stability for the Canadian economy, but for homeowners approaching a mortgage renewal, the stakes remain high. With the next announcement scheduled for September 2, 2026, now is the time to evaluate your options and lock in a strategy. Whether you are navigating mortgage rates Canada offers today or looking ahead to the fall, understanding the BoC's trajectory is essential. At Lowest Rate Canada, we work for you: not the banks: [...]
The September BoC Pivot: What Happens If They Actually Cut After 7 Holds?
As the Canadian real estate and mortgage markets look toward the upcoming September 2, 2026 announcement, anticipation is reaching a fever pitch. After an unprecedented streak of seven consecutive rate holds leaving the policy rate parked at 2.25%, borrowers, investors, and homeowners are wondering if autumn will bring the pivot everyone has been waiting for. With current market pricing indicating strong expectations of another hold alongside a comprehensive Monetary Policy Report, the stakes for your mortgage strategy have never been higher. Whether you are managing an upcoming mortgage renewal or weighing a variable mortgage rates Canada decision against a [...]
Bank of Canada July 2026: What the Rate Decision Means for Your Mortgage
As we roll into July 2026, the Canadian mortgage landscape is feeling the heat: and it’s not just the summer weather. On July 15, 2026, the Bank of Canada (BoC) will announce its latest interest rate decision, and if you have a mortgage or you are planning to buy a home, this is the one date you need to circle on your calendar. Currently, the overnight lending rate sits at 2.25%. While that might sound like a dream compared to the highs of 2023, the path forward is looking a bit more complicated than we expected at the start [...]
