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The target for the overnight rate set by the Bank of Canada's Governing Council, followed by a press conference.
| Published by | Bank of Canada |
|---|---|
| Country | Canada |
| Currency affected | CAD |
| Release frequency | 8 times per year |
| Usual release time | 13:45 GMT (UTC+00:00) |
| Impact rating | High impact |
| Typical volatility | 50-110 pips on USD/CAD inside the first hour |
The BoC Interest Rate Decision is released 8 times per year by Bank of Canada, usually at 13:45 GMT (UTC+00:00). These are the dates inside our calendar window.
Every release in the window has already been published. The next one falls outside the four-week demo calendar.
Canada's household debt load makes the economy unusually rate-sensitive, so policy shifts feed through fast.
USD/CAD is driven by both the policy gap with the Fed and the oil price, which can pull in opposite directions.
Typical volatility around the release is 50-110 pips on USD/CAD inside the first hour. That is an average, not a limit: when the figure lands far from consensus, or when it contradicts the central bank's own guidance, the move can be several times larger and can extend for the rest of the session.
| Pair | Why it reacts |
|---|---|
| USD/CAD | The direct expression of BoC policy. |
| CAD/JPY | Carry-sensitive Canadian dollar expression. |
| EUR/CAD | Isolates the loonie from the dollar. |
Surprise is the released figure minus the consensus forecast, in the units of the release. Green means the figure printed above consensus, red below.
| Release date | Period | Previous | Forecast | Actual | Surprise |
|---|---|---|---|---|---|
| 14 Jun 2026 | Jun meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 30 Apr 2026 | Apr meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 16 Mar 2026 | Mar meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 30 Jan 2026 | Jan meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 16 Dec 2025 | Dec meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 1 Nov 2025 | Nov meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 17 Sep 2025 | Sep meeting | 2.50% | 2.50% | 2.50% | 0.00 |
| 3 Aug 2025 | Aug meeting | 2.50% | 2.50% | 2.50% | 0.00 |
Bank of Canada publishes the BoC Interest Rate Decision for Canada. It is released 8 times per year, typically at 13:45 GMT (UTC+00:00).
We rate this release high impact. In our sample the typical move is 50-110 pips on USD/CAD inside the first hour, though a large deviation from consensus can produce considerably more.
USD/CAD, CAD/JPY, EUR/CAD carry the cleanest reaction. The direct expression of BoC policy.
No. The currency reaction depends on how the figure changes the expected path of interest rates, not on whether the headline is high or low. The same surprise can be read very differently depending on the central bank's current stance.