Canada's next overnight-rate announcement is scheduled for October 28 at 9:45 a.m. Eastern; no outcome is yet known.
A specific decision time, not a predicted decision
The Bank of Canada has scheduled its next interest-rate announcement for Wednesday, October 28, 2026, at 9:45 a.m. Eastern time. It will release both the target for the overnight policy rate and its quarterly Monetary Policy Report at the same time. Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are scheduled to speak at 10:30 a.m. The central bank's release, not market speculation or lender advertising, will establish what Governing Council actually decided.
Why the outlook report matters
The Monetary Policy Report is designed to explain the Bank's base-case outlook for Canadian growth and inflation, together with the important risks. For Canadian markets, a decision on the rate and a change to the forecast are separate pieces of information: the overnight target affects short-term borrowing conditions, while forward guidance and economic assumptions can influence bond yields and investor expectations beyond the announcement day.
Context from Canada's budget watchdog
The Parliamentary Budget Officer's October 20 outlook projected real Canadian GDP growth of 0.9% in 2026 and 1.5% in 2027, revised down from June. It described trade measures, higher energy prices and uncertainty for exporters and business investment. That is an independent parliamentary forecast, not a preview of the Bank of Canada's confidential decision. The central bank may use different assumptions and reach different conclusions.
How readers should interpret the market reaction
An intraday rise or fall in the TSX does not establish where stocks closed, just as a change in a bank's advertised mortgage rate does not always equal a move in the central bank's overnight target. CDN News will prioritize the dated official decision, the actual language in the Monetary Policy Report and the difference between market pricing and confirmed policy. A new central-bank decision must not be presented as already announced before 9:45 a.m. Eastern Wednesday.
Sources & transparency
Bank of Canada — official October 28 media advisoryBank of Canada — October 28 announcement eventParliamentary Budget Officer — October 2026 outlookOriginal CDN News coverage. Sources are linked for reference.
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