MacroLow impactConfirmed
Bank of Canada Interest Rate Announcement, October 28, 2026
The Bank of Canada announces its target for the overnight rate on Wednesday, October 28, 2026.
Wednesday, October 28, 2026
All day
About this event
The Bank of Canada conducts monetary policy by steering short-term interest rates. It moves the overnight rate target on eight dates that are fixed in advance each year.
The interest rate announcement is due on Wednesday, October 28, 2026, and the Bank of Canada publishes its Monetary Policy Report the same day. The target for the overnight rate was 2.25% on September 29, 2026.
Why it matters
The target for the overnight rate stood at 2.25% on September 29, 2026, and the October 28, 2026 decision sets the new level against that reading.
Key facts
AnnouncementInterest rate announcement (target for the overnight rate)
Announcement dateOct 28, 2026
Published that dayInterest rate announcement and Monetary Policy Report
Target for the overnight rate when read (%, set 2026-09-02)2.25%
What to watch
- 1The new target for the overnight rate
- 2What the Monetary Policy Report says alongside the decision
