Bank of Canada Rate Announcement Dates 2025: Full Schedule

If you hold a mortgage in Canada, you’ve probably bookmarked a handful of dates this year. The Bank of Canada sets eight policy rate announcement dates in 2025—and four of those dates come bundled with a full Monetary Policy Report that digs deeper into the economic outlook.

2025 Announcements with MPR: January 29, April 16, July 30, October 29 · Other 2025 Announcements: March 12, June 4, September 17, December 10 · Announcements per Year: 8 · Announcement Time: 09:45 ET · Current Policy Rate: 2.25%

What are the Bank of Canada rate announcement dates for 2025?

The official 2025 schedule released by the Bank of Canada contains eight policy rate announcement dates spanning the full calendar year. The Bank of Canada published this schedule in January 2025, giving households, lenders, and businesses a clear roadmap for the year ahead. Each announcement takes place at 09:45 ET, with the accompanying press release typically published within minutes of the statement.

The pattern is consistent: announcements occur roughly every six to eight weeks, with dates clustered mid-week to allow markets time to absorb the decision. The Bank of Canada releases statements on its official website alongside background materials for journalists and analysts.

Announcements with Monetary Policy Report

• Wednesday, January 29, 2025 — First rate announcement of the year, paired with the quarterly Monetary Policy Report that sets the tone for economic expectations.
• Wednesday, April 16, 2025 — Spring MPR offering updated growth and inflation projections.
• Wednesday, July 30, 2025 — Mid-year MPR with half-year economic outlook.
• Wednesday, October 29, 2025 — Fall MPR with detailed forecast revisions ahead of year-end.

Standard announcement dates

• Wednesday, March 12, 2025 — Statement-only announcement.
• Wednesday, June 4, 2025 — Statement-only announcement.
• Wednesday, September 17, 2025 — Statement-only announcement.
• Wednesday, December 10, 2025 — Final announcement of the year, held the rate at 2.25%.

How many Bank of Canada announcements per year?

The Bank of Canada holds exactly eight scheduled interest rate announcement dates per year under normal operating conditions. This steady cadence gives markets predictability and allows the central bank to respond to economic data as it arrives. The Bank of Canada spaced these dates roughly six to eight weeks apart throughout 2025.

Typical schedule

This eight-per-year cadence is not unique to 2025. The Bank of Canada has maintained this schedule pattern for several years, adjusting dates only when holidays or extraordinary circumstances require it. The predictability is intentional—businesses, households, and financial markets can plan around known announcement windows rather than guessing when the next decision will land.

Spacing between dates

In 2025, the intervals between announcements ranged from 41 to 56 days, reflecting the balance between acting on fresh economic data and allowing previous policy changes to filter through the economy. The tightest interval fell between March and April, when the Bank cut the rate by 25 basis points in each of those two months. The longest gap came in the summer, with 10 weeks between June and July announcements.

Historical consistency

The Bank of Canada has published an annual schedule well in advance for each of the past several years, a practice that helps anchor market expectations. The eight-date cadence has held even through periods of heightened economic uncertainty, including the post-pandemic inflation surge and the subsequent rate-cutting cycle that began in 2024.

What will the Bank of Canada interest rate be in 2025?

The policy rate trended downward through much of 2025 as the Bank of Canada moved to ease monetary conditions following the aggressive tightening cycle of 2022–2023. The overnight rate started 2025 at 3.25% after a December 2024 cut, fell to 3.00% on January 29, dropped to 2.75% on March 12, and settled at 2.25% by the October 29 announcement, where it held through the December 10 decision.

Current policy rate

As of December 10, 2025, the overnight target rate stands at 2.25% with a corresponding Bank Rate of 2.50% and a deposit rate of 2.00%. The Bank of Canada confirmed this hold in its official statement, with the decision widely reported across Canadian financial news outlets (TD Stories December 2025 report).

Recent decisions

The October 29 decision included a 25 basis-point cut that brought the policy rate from 2.50% to 2.25%. The accompanying Monetary Policy Report signaled that while inflation had moderated, uncertainty around U.S. trade tariffs remained a factor weighing on the Canadian economic outlook. The Bank of Canada specifically noted the uncertainty surrounding potential U.S. trade tariffs as a key consideration (CREA January 2025 MPR analysis).

Forecast factors

The path for rates in 2026 will hinge on several data points: core inflation persistence, labor market strength, housing market activity, and—increasingly—the trade relationship with the United States. Lower mortgage rates and recent mortgage rule changes are expected to strengthen resale market activity according to the January 2025 MPR analysis (CREA January 2025 MPR analysis), though new home supply remains constrained by land availability, zoning restrictions, and skilled labor shortages.

What is the Bank Rate prediction for Canada?

Forecasting the Bank Rate requires watching the same data the Bank of Canada monitors: inflation readings, employment figures, GDP growth, and housing market activity. The Bank of Canada publishes its own forecast in the Monetary Policy Report, but independent economists and financial institutions also publish predictions tied to each announcement date.

Short-term outlook

For late 2025 and early 2026, economist consensus suggests the rate-cutting cycle has likely concluded. The December 10 hold at 2.25% reinforced this view. The direction beyond that point depends heavily on whether inflation continues to moderate toward the 2% target or whether trade disruptions create upward pressure on prices.

Mortgage rate links

Bank of Canada policy rates influence the prime rate that lenders use to set variable-rate mortgages and some fixed-rate products. The relationship is not one-to-one, but when the overnight rate falls, lenders typically reduce the prime rate, which feeds through to variable-rate borrowers immediately. Fixed mortgage rates tend to track bond yields, which are influenced by longer-term rate expectations.

Influencing factors

• Inflation trajectory toward the 2% target
• Labor market strength and wage growth
• U.S. trade policy and tariff implications for Canadian exports
• Housing market rebound and its effect on household debt
• Global monetary policy divergence between the Fed and Bank of Canada

Should I lock my mortgage rate now or wait?

This is the question driving more mortgage-holder anxiety than almost any other in 2025. The honest answer depends on your renewal window, your risk tolerance, and whether your current lender is offering a competitive rate. The Bank of Canada announcements themselves do not guarantee rate changes, but they do set the tone that lenders follow.

Pros and cons of locking now

The argument for locking centers on certainty. With 60% of mortgage holders renewing in 2025 or 2026 facing payment increases, the comfort of knowing your exact payment for five years has real value. The argument against locking centers on opportunity cost—if rates decline further before your renewal date, a locked rate becomes an anchor rather than a benefit.

Timing with announcements

If your renewal falls within six to eight weeks of an upcoming Bank of Canada announcement, you have a natural decision point. Most lenders will allow you to lock in a rate 90 to 120 days before renewal. This window lets you wait until the Tuesday before a Wednesday announcement to see if the Bank cuts and lenders adjust their offer rates.

Fixed term options

The standard fixed-term options are two, three, five, and occasionally seven years. Five-year terms dominate the Canadian market because they align with typical amortizations and offer the best combination of rate and flexibility. Three-year terms appeal to borrowers who want moderate certainty without committing to the full five-year horizon. Two-year terms carry more refinancing risk and are generally offered to borrowers with specific short-term needs.

What we know and what’s still uncertain

The Bank of Canada has maintained a remarkably transparent communication approach for its rate decisions. Official facts about the schedule are confirmed and reliable. The harder questions—what rates will do next, whether the cutting cycle resumes, whether mortgage rates drop further—remain genuinely open.

Confirmed facts

• Bank of Canada published the 2025 schedule in January 2025 (Bank of Canada official schedule)
• Eight announcement dates are scheduled for 2025 (Bank of Canada official schedule)
• Four dates include the full Monetary Policy Report (Bank of Canada official schedule)
• All announcements occur at 09:45 ET on Wednesdays (Bank of Canada official schedule)
• About 60% of outstanding mortgages renew in 2025 or 2026 (Bank of Canada Staff Analytical Note 2025-21)

What’s still unclear

• The direction and magnitude of rate changes for 2026
• Whether the Bank of Canada has published the 2026 schedule yet
• Whether mortgage rates will return to the 3% range for fixed terms
• The exact rate path if the Fed cuts more aggressively than the BoC

For Canadian mortgage holders, the 2025 rate announcement schedule offers both clarity and uncertainty. The eight dates are confirmed, the rate decisions through December are largely recorded, and the pattern of payment increases for fixed-rate renewals is documented. What remains open is whether the Bank of Canada resumes cutting in 2026—and whether that matters more than the structural increase in payments that most renewing households will face regardless of rate direction. The choice between locking in a five-year fixed term now or gambling on better offers later is not a theoretical one for the 60% of Canadians renewing their mortgages in the next 18 months.