Next release
Released 8 times per yearJul 15, 2026 13:45 UTC
in 24 days
Latest result
The most recent Bank of Canada Rate Decision (Jun 10, 2026) printed 2.25% versus 2.25% expected (previous 2.25%) — in line with forecast.
What it measures
This is the Bank of Canada's decision on interest rates. The Canadian dollar is shaped by two forces at once: what the Bank does relative to the US Federal Reserve next door, and the price of oil, Canada's biggest export. The decision comes with guidance that usually moves the currency more than the rate itself.
Higher rates reward holding the Canadian dollar, so a rise or a hint of more tends to lift it and a cut weakens it. But because Canada's economy is tied so tightly to the US, what really matters is the gap between the Bank of Canada and the Federal Reserve: if the Bank falls well behind the Fed, the Canadian dollar tends to suffer even if rates at home are steady. Canadian mortgages reset on a multi-year cycle, so rate changes still feed through, and a wave of homeowners refinancing at higher rates pushes the Bank to ease sooner. Oil matters too, since a higher oil price tends to support the currency, though the rate gap with the US usually wins when the two disagree.
What a higher or lower Bank of Canada Rate Decision means for the CAD
A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the CAD.
Higher than forecast
An actual above the consensus forecast is typically bullish for the CAD.
Lower than forecast
An actual below the consensus forecast is typically bearish for the CAD.
Release history
Every release of Bank of Canada Rate Decision: actual vs forecast and the beat/miss outcome. Click a date for the full read of that release.
| Release | Actual | Forecast | Previous | Outcome |
|---|---|---|---|---|
| Jun 10, 2026 | 2.25% | 2.25% | 2.25% | inline |
| Apr 29, 2026 | 2.25% | 2.25% | 2.25% | inline |
| Mar 18, 2026 | 2.25% | 2.25% | 2.25% | inline |
| Jan 28, 2026 | 2.25% | 2.25% | 2.25% | inline |
| Oct 29, 2025 | 2.25% | 2.25% | 2.5% | inline |
| Sep 17, 2025 | 2.5% | 2.5% | 2.75% | inline |
| Jul 30, 2025 | 2.75% | 2.75% | 2.75% | inline |
| Jun 4, 2025 | 2.75% | 2.75% | 2.75% | inline |
| Apr 16, 2025 | 2.75% | 2.75% | 2.75% | inline |
| Mar 12, 2025 | 2.75% | 2.75% | 3% | inline |
| Jan 29, 2025 | 3% | 3% | 3.25% | inline |
| Dec 11, 2024 | 3.25% | 3.25% | 3.75% | inline |
| Oct 23, 2024 | 3.75% | 3.75% | 4.25% | inline |
| Sep 4, 2024 | 4.25% | 4.25% | 4.5% | inline |
| Jul 24, 2024 | 4.5% | 4.5% | 4.75% | inline |
| Jun 5, 2024 | 4.75% | 4.75% | 5% | inline |
| Apr 10, 2024 | 5% | 5.0% | 5% | inline |
| Mar 6, 2024 | 5% | 5% | 5% | inline |
| Jan 24, 2024 | 5% | 5% | 5% | inline |
| Dec 6, 2023 | 5% | 5% | 5% | inline |
| Oct 25, 2023 | 5% | 5.0% | 5% | inline |
| Sep 6, 2023 | 5% | 5.0% | 5% | inline |
| Jul 12, 2023 | 5% | 5.0% | 4.75% | inline |
| Jun 7, 2023 | 4.75% | 4.5% | 4.5% | above |
| Apr 12, 2023 | 4.5% | 4.5% | 4.5% | inline |
| Mar 8, 2023 | 4.5% | 4.5% | 4.5% | inline |
| Jan 25, 2023 | 4.5% | 4.50% | 4.25% | inline |
| Dec 7, 2022 | 4.25% | 4% | 3.75% | above |
| Oct 26, 2022 | 3.75% | 4% | 3.25% | below |
| Sep 7, 2022 | 3.25% | 3.25% | 2.5% | inline |
| Jul 13, 2022 | 2.5% | 2.25% | 1.5% | above |
| Jun 1, 2022 | 1.5% | 1.5% | 1% | inline |
| Apr 13, 2022 | 1% | 1% | 0.5% | inline |
| Mar 2, 2022 | 0.5% | 0.5% | 0.25% | inline |
| Jan 26, 2022 | 0.25% | 0.5% | 0.25% | below |
| Dec 8, 2021 | 0.25% | 0.25% | 0.25% | inline |
Frequently asked questions
- What is Bank of Canada Rate Decision?
- This is the Bank of Canada's decision on interest rates. The Canadian dollar is shaped by two forces at once: what the Bank does relative to the US Federal Reserve next door, and the price of oil, Canada's biggest export. The decision comes with guidance that usually moves the currency more than the rate itself.
- What was the latest Bank of Canada Rate Decision reading?
- The most recent release (Jun 10, 2026) came in at 2.25%, versus a forecast of 2.25% and a previous 2.25% — in line with expectations.
- When is the next Bank of Canada Rate Decision?
- The next Bank of Canada Rate Decision is scheduled for Jul 15, 2026. It is released 8 times per year.
- What happens to the CAD if Bank of Canada Rate Decision is higher than expected?
- An actual reading above the consensus forecast is typically bullish for the CAD, while a reading below forecast is bearish for the CAD. A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the CAD.
- How does Bank of Canada Rate Decision affect the CAD?
- Higher rates reward holding the Canadian dollar, so a rise or a hint of more tends to lift it and a cut weakens it. But because Canada's economy is tied so tightly to the US, what really matters is the gap between the Bank of Canada and the Federal Reserve: if the Bank falls well behind the Fed, the Canadian dollar tends to suffer even if rates at home are steady. Canadian mortgages reset on a multi-year cycle, so rate changes still feed through, and a wave of homeowners refinancing at higher rates pushes the Bank to ease sooner. Oil matters too, since a higher oil price tends to support the currency, though the rate gap with the US usually wins when the two disagree.