The Bank of Canada's next interest rate decision and announcement is due on Wednesday, 17 September, 2025 at 13:45 UTC.
The Bank of Canada (BoC) announces its "key" interest rate (the overnight rate) and any decisions related to its monetary policy on eight fixed dates per year.
The BoC's key interest rate was formerly the Bank Rate. While the Bank Rate still exists, and is now set at the upper limit of the operating band, different methods have been used to determine and set it in the past.
What is the current BoC interest rate?
The Bank of Canada's current target for the overnight rate (the policy interest rate) remains unchanged at 2.75%. This target rate has been in place since March, 2025, following a 25 basis point reduction from 3.00%, and marks the third consecutive hold following a series of rate cuts totalling 225 basis points since mid-2024.
For the latest Canadian Overnight Repo Rate Average (CORRA), please see the Bank of Canada's website.
What date is the next Bank of Canada rate announcement?
The Bank of Canada's next interest rate announcement is due on Wednesday, September 17th. This announcement will coincide with the release of the Monetary Policy Report (MPR), which provides the Bank's outlook on inflation and economic growth.
See below for all the BoC's scheduled rate announcements in 2025:
- Wednesday, 29 January 2025
- Wednesday, 12 March 2025
- Wednesday, 16 April 2025
- Wednesday, 4 June 2025
- Wednesday, 30 July 2025
- Wednesday, 17 September 2025
- Wednesday, 29 October 2025
- Wednesday, 10 December 2025
These scheduled announcements typically occur every six to seven weeks. During each meeting, the BoC's Governing Council evaluates economic conditions, inflation trends, and other financial indicators to determine whether to raise, lower, or maintain the benchmark overnight rate.
What time is Bank of Canada interest rate announcement?
Eight scheduled times a year, the Bank of Canada announces its overnight rate target at 09:45 ET (13:45 UTC).
How often does the Bank of Canada review rates?
The Bank of Canada (BoC) reviews its interest rates eight times per year on a predetermined schedule. These announcements occur approximately every six to seven weeks.
However, The BoC can also hold emergency reviews to adjust interest rates outside the normal schedule in response to unexpected economic shocks, such as the COVID-19 pandemic in 2020. During each review, the BoC's Governing Council assesses economic conditions, inflation trends, and financial stability before deciding whether to raise, lower, or maintain the target for the overnight rate.
BoC interest rate history
See below for historical interest rate data, showing how the BoC's policy interest rate has changed over recent years.
*As of 2021, a change takes effect the day after its announcement.
What is the BoC interest rate forecast?
As of July 30, 2025, the Bank of Canada (BoC) has maintained its key interest rate at 2.75%, marking the third consecutive hold following a series of cuts totalling 225 basis points since mid-2024. This decision reflects the Bank’s cautious stance amid persistent core inflation and gradually easing risks from global trade tensions.
- Market Expectations: Traders in overnight swaps anticipate the BoC will lower the policy rate by at least 50 basis points before year-end, with a potential drop to 2.25% if inflation trends downward and growth weakens. A Reuters poll conducted in late July found that 18 of 28 economists expect a rate cut in September, with a majority predicting at least two cuts in 2025.
- Analyst Projections: Some economists forecast the policy rate could reach 2.00%–2.25% by the end of 2025, especially if downside risks to growth materialise and inflation continues to moderate.
While the BoC remains open to further easing, it is also alert to inflationary risks stemming from earlier tariff-driven cost pressures. The central bank has reiterated its commitment to a data-dependent and balanced approach—supporting the economy without jeopardising its 2% inflation target.
What date is the next BoC interest rate decision?
The next interest rate decision by the BoC is scheduled for 2025-09-17.
BoC interest rate dates
What is the prediction for the Bank of Canada rate?
As of July 30, 2025, the Bank of Canada (BoC) has kept its key interest rate unchanged at 2.75%, marking the third consecutive hold as it monitors lingering inflationary pressures and gradually easing global trade tensions.
Despite the pause, the BoC has maintained an easing bias, indicating it is prepared to lower rates if economic conditions deteriorate and inflation remains contained.
According to a Reuters poll conducted between July 21 and 25, 18 out of 28 economists expect the BoC to begin cutting rates in September, with a reduction to 2.50%, and most forecast at least two rate cuts by the end of 2025. Some analysts anticipate as many as three rate cuts, potentially bringing the policy rate to between 2.00% and 2.25% by year-end, depending on how inflation and trade-related risks evolve.
Will the BoC continue to cut rates in 2025?
The BoC continues to signal an easing bias, indicating readiness to cut rates in 2025, should inflation moderate or growth weaken further.
Reuters found that 18 of 28 economists expect a first rate cut in September 2025, lowering the rate to 2.50%, and over 60% anticipate at least two cuts before year-end, with five economists projecting three cuts, potentially bringing the rate as low as 2.00%–2.25% by year-end.
Should we expect rate increases in 2025?
No—further rate increases this year appear unlikely. The BoC has emphasised its easing bias, signalling readiness to cut if economic growth weakens and inflation subsides—not to raise rates further.
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