Next Interest Rate Announcement Canada – April 29 Date and Expectations

The Bank of Canada will announce its next interest rate decision on Wednesday, April 29, 2026, at 09:45 ET. The announcement will include the Monetary Policy Report, providing detailed analysis of economic conditions and policy rationale. Governor Tiff Macklem is expected to maintain the overnight rate target at 2.25%, continuing the pause that began after the October 2025 cut.

Understanding the precise timing and expectations surrounding these announcements matters for borrowers, investors, and business owners across Canada. The central bank maintains a fixed schedule of eight annual announcements, typically spaced six to seven weeks apart, with specific dates published years in advance.

When Is the Next Bank of Canada Interest Rate Announcement?

The next BoC interest rate decision arrives on April 29, 2026. This date marks the third announcement of the year and follows the March 18 decision where policymakers held the target rate steady. All announcements occur at 09:45 ET (13:45 UTC).

Key Details for the April Announcement

• The announcement includes the quarterly Monetary Policy Report
• Governor press conference typically follows the release
• Decision published simultaneously on bankofcanada.ca
• Next Bank of Canada interest rate schedule entry follows on June 10
• Historical data shows the rate peaked at 5.00% in 2024 before the cutting cycle
• Five additional announcements remain after April in the 2026 calendar

What to Expect from the Next Rate Decision

Economists broadly expect the Bank to hold the overnight rate at 2.25% through 2026 and possibly into 2027. A Reuters poll indicates consensus for no further cuts in the near term, signaling the end of the 2025 rate-cutting cycle. No credible sources currently predict rate hikes for this period.

Will the Bank of Canada Cut Rates at the Next Announcement?

Market expectations indicate no cut at the April 29 announcement. The cutting cycle that reduced rates from 5.00% in 2024 through successive 25-basis-point reductions appears to have concluded. Recent hold decisions on December 10, 2025, January 28, 2026, and March 18, 2026, reinforce this stability.

What Do Economists Predict for the Next BoC Rate?

Analysts forecast maintenance of the 2.25% target. The focus has shifted from stimulus to monitoring inflation progress toward the 2% target. Official statements emphasize balanced risks, reducing pressure for immediate policy changes.

Recent Bank of Canada Rate History

The overnight rate target currently stands at 2.25%, unchanged since October 29, 2025. This level represents a 275-basis-point reduction from the 5.00% peak observed during the 2024 tightening cycle.

When Was the Last Bank of Canada Rate Decision?

The most recent announcement occurred on March 18, 2026, when policymakers held the rate at 2.25%. This followed the January 28, 2026 decision, which also maintained the 2.25% target and included the Monetary Policy Report.

What Are the Current Bank of Canada Interest Rates?

The policy interest rate remains at 2.25%. The Bank implemented this level through a 25-basis-point cut on October 29, 2025, reducing the target from 2.50%. Previous reductions occurred on September 17, 2025 (25 bps), and March 12, 2025 (25 bps).

Key Factors Influencing the Decision

Multiple economic indicators guide the Bank’s deliberations. Progress toward the 2% inflation target remains the primary consideration, supported by cooling price pressures and steady economic growth.

What Factors Will Influence the Next Rate Decision?

Inflation data showing alignment with the 2% target supports the current hold position. Economic signals indicate stabilized growth, reducing the urgency for additional stimulus. The Bank monitors global trends, consumer confidence surveys, and the Financial Stability Report alongside domestic employment data.

Has the Bank of Canada Signaled a Rate Cut?

The Bank has not signaled imminent cuts. The March 18, 2026, press release noted balanced risks and confirmed the 2.25% target. Previous statements emphasized the end of the cutting cycle as inflation approaches target levels.

Bank of Canada Announcement Timeline

The 2026 schedule contains eight fixed announcements occurring approximately every six to seven weeks. Three remaining dates include the Monetary Policy Report.

1. January 28, 2026: Held at 2.25% (with MPR)
2. March 18, 2026: Held at 2.25%
3. April 29, 2026: Next announcement (with MPR)
4. June 10, 2026: Scheduled decision
5. July 15, 2026: Scheduled (with MPR)
6. September 2, 2026: Scheduled decision
7. October 28, 2026: Scheduled (with MPR)
8. December 9, 2026: Final 2026 decision

What We Know and What Remains Uncertain

How the Decision Fits Into Broader Economic Policy

The shift from aggressive tightening in 2024 to measured cuts in 2025, and now to sustained holding patterns in 2026, reflects the Bank’s confidence in inflation control. The 2.25% rate represents a neutral stance intended to neither stimulate nor restrict growth excessively.

This policy phase prioritizes stability over intervention. By maintaining rates while inflation trends toward target, the Bank aims to anchor expectations without triggering renewed price pressures or unnecessary economic cooling. Official communications emphasize data-dependent flexibility, though current signals suggest prolonged stability.

Official Sources and Policy Statements

The Bank of Canada publishes official reasoning alongside each decision. Recent releases emphasize balanced risk assessments and progress toward inflation targets.

“The Bank today held its target for the overnight rate at 2.25%. The Governing Council continues to assess the balance of risks around the inflation outlook.”

— Bank of Canada, March 18, 2026 Press Release

“Progress toward the 2% target has supported the decision to hold the policy rate, with recent data aligning with balanced risks.”

— Governor Tiff Macklem, Policy Statement

Looking Ahead: What Comes After the Announcement

Following the April 29 decision, attention will shift to the June 10, 2026 meeting. Borrowers and businesses should monitor the accompanying Monetary Policy Report for shifts in economic outlook. The Bank of Canada interest rate schedule details remain available for planning purposes, with the next MPR due July 15, 2026.

Frequently Asked Questions