GTA · Updated October 18, 2026
Bank of Canada dates and published rate forecasts
This page lists the next Bank of Canada announcement dates, the next Consumer Price Index release dates, and a table of policy-rate forecasts the big banks have published. MKG Mortgages does not quote a rate here.
Forecasts are third-party estimates, not rate offers.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.
When does the Bank of Canada announce next?
The Bank sets the target for the overnight rate on eight scheduled dates a year. Announcements are at 09:45 Eastern time. The Monetary Policy Report is published with the January, April, July, and October announcements. The next date after October 18, 2026 is Wednesday, October 28, 2026.
The Bank's own policy-rate page shows the target at 2.25% on September 2, 2026, with no change that day. That figure is the Bank's published target. It is not a mortgage rate, and it is not an offer from this office.
| Date | What is published | Status |
|---|---|---|
| Wednesday, July 15, 2026 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Already held |
| Wednesday, September 2, 2026 | Interest rate announcement. 09:45 ET. | Already held |
| Wednesday, October 28, 2026 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Upcoming |
| Wednesday, December 9, 2026 | Interest rate announcement. 09:45 ET. | Upcoming |
| Wednesday, January 27, 2027 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Upcoming |
| Wednesday, March 3, 2027 | Interest rate announcement. 09:45 ET. | Upcoming |
| Wednesday, April 28, 2027 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Upcoming |
| Wednesday, June 2, 2027 | Interest rate announcement. 09:45 ET. | Upcoming |
| Wednesday, July 21, 2027 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Upcoming |
| Wednesday, September 8, 2027 | Interest rate announcement. 09:45 ET. | Upcoming |
| Wednesday, October 27, 2027 | Interest rate announcement and Monetary Policy Report. 09:45 ET. | Upcoming |
| Wednesday, December 8, 2027 | Interest rate announcement. 09:45 ET. | Upcoming |
Sources. Bank of Canada, 2026 announcement schedule · Bank of Canada, 2027 announcement schedule · Bank of Canada policy interest rate. The 2027 dates were published July 27, 2026, which also reconfirmed September 2, October 28, and December 9, 2026.
When is the next CPI release?
The Consumer Price Index is one of the inflation reports the Bank discusses. Statistics Canada publishes the dates. The release covers the month named in the reference column, not the month of the release itself. The next release after October 18, 2026 is Monday, October 19, 2026, for September 2026.
| Release date | Reference month | Status |
|---|---|---|
| Monday, September 14, 2026 | August 2026 | Already released |
| Monday, October 19, 2026 | September 2026 | Upcoming |
| Monday, November 16, 2026 | October 2026 | Upcoming |
| Monday, December 14, 2026 | November 2026 | Upcoming |
| Monday, January 18, 2027 | December 2026 | Upcoming |
| Tuesday, February 16, 2027 | January 2027 | Upcoming |
| Monday, March 15, 2027 | February 2027 | Upcoming |
Sources. Statistics Canada, major economic releases · Statistics Canada, 2026–2027 release dates (PDF). The PDF is the 2026–2027 schedule. Dates after March 2027 were not in that file when this page was checked.
What have the big banks published?
The table is the policy rate each bank published for the end of 2026 and the end of 2027. It is their forecast of the Bank of Canada target, not a mortgage rate and not a rate from MKG. Banks whose October tables were not opened on October 18, 2026 are left off, rather than filled in from a news summary.
| Publisher | Forecast dated | End of 2026 | End of 2027 | Source |
|---|---|---|---|---|
| Scotiabank Economics | October 13, 2026 | 2.50 | 3.25 | Scotiabank Economics tableThe snapshot also shows 3.25% at the end of 2028. The October 13 forecast note says 3.25% by the second quarter of 2027. |
| RBC Economics | October 2026 | 2.25 | 3.25 | RBC Economics tableSame table, end of quarter: 2.50% in Q1 2027, 2.75% in Q2, 3.00% in Q3, and 3.25% in Q4. |
| TD Economics | September 2026 | 2.25 | 2.25 | TD Economics tableThe published overnight-target row stays at 2.25% through the end of 2028. |
Forecasts are third-party estimates, not rate offers. A later update from the same bank replaces the row. This page does not average them into one MKG call.
What does this mean for your renewal?
The letter from your current lender is the renewal offer. The policy rate is a different number, set on the dates above. They do not have to move on the same day, and a forecast in the table is not the rate in your letter.
If the mortgage is variable, the contract usually ties the interest to prime, and prime has followed the policy rate with a gap. Read your own contract for whether the payment changes or the amortization does. The history of those two published rates is on the mortgage rates page.
If the mortgage is fixed, the number that matters at maturity is the rate, term, and payment in the offer, plus what another lender would actually approve. Bond yields and an economist's year-end figure are context. They are not a promise that your new payment will be lower.
The next announcement is October 28, 2026. Waiting for that morning does not, by itself, improve an offer, and signing the letter before you have read the penalty is a separate decision. A switch has costs: the penalty if you are still inside a term, legal fees, and sometimes an appraisal. The compare-offers sketch adds those only if you type them in. The renewal page is where the file itself is described.
What does this mean if you are buying?
A purchase in the GTA is priced from the agreement, the down payment, and a payment you can carry if the rate on closing is not the rate you hoped for. A cell in the forecast table is not that payment.
A pre-approval, when a lender offers one, is a review of the borrowers and sometimes a rate hold for a stated number of days. It is not a guarantee the property will appraise, and it is not a guarantee that a forecast will be the rate on the closing date.
Pre-construction is further out. Occupancy and final closing can sit well past the next announcement. The rate that can be financed then is the rate a lender offers on that file, after the appraisal. The pre-construction page is the place for that timing.