If you read nothing else
- The Bank of Canada has eight rate decisions scheduled for 2027: January 27, March 3, April 28, June 2, July 21, September 8, October 27, and December 8, all announced at 9:45 a.m. ET.
- Four of those decisions come with a Monetary Policy Report in January, April, July, and October, which include updated economic forecasts and matter most for mortgage borrowers.
- Three more decisions remain in 2026: September 2, October 28 with an MPR, and December 9.
- For borrowers renewing in 2027, knowing which decision falls before and after their renewal date is the most important planning step they can take now.
- Most lenders will offer a rate hold at no cost for up to 180 days, which can be locked in before any of these decisions.
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Bank of Canada rate decisions scheduled for 2027 (Bank of Canada)
The Full 2027 Schedule
The Bank of Canada has confirmed eight policy rate announcement dates for 2027. All decisions are released at 9:45 a.m. ET. The eight dates are January 27, March 3, April 28, June 2, July 21, September 8, October 27, and December 8.
Four of those decisions come with a Monetary Policy Report (MPR) in January, April, July, and October. These reports include updated forecasts for GDP growth, inflation, and the interest rate path. The other four, in March, June, September, and December, are standard announcements: a rate change or hold based on the data since the last decision, with no updated economic projections.
| Date | Announcement |
|---|---|
| January 27 | Rate decision with MPR |
| March 3 | Rate decision only |
| April 28 | Rate decision with MPR |
| June 2 | Rate decision only |
| July 21 | Rate decision with MPR |
| September 8 | Rate decision only |
| October 27 | Rate decision with MPR |
| December 8 | Rate decision only |
The Bank also confirmed its remaining 2026 dates: September 2, October 28, and December 9. The October 28 decision comes with 2026's final MPR, which sets the tone for where rates will sit when 2027 begins.
Why MPR Decisions Matter More
Not all eight decisions carry equal weight. The four that come with an MPR, in January, April, July, and October, put Canadian markets in motion and shift borrowers’ strategies. An MPR gives the Bank an updated two-year overview of the Canadian economy. A rate hold at an MPR tells you significantly more about where the Bank is heading than a hold at a standard announcement.
For a borrower renewing in 2027, the January 27 MPR is the most important date on the calendar. It sets the tone for the full year. The April MPR, with the first quarter of 2027 data behind it, is the second most important for anyone renewing in the summer or fall.
Not all eight decisions carry equal weight. The four that come with an MPR in January, April, July, and October put Canadian markets in motion and shift borrowers' strategies.
The Remaining 2026 Dates
Three more decisions remain in 2026. September 2 is a standard announcement without an MPR. October 28 comes with the year’s final MPR, the Bank’s last full economic update before 2027 and the clearest signal of what January 27 will bring. December 9 is the final decision of 2026, a standard announcement.
Borrowers renewing in early 2027 should watch the October 28 MPR closely. It is essentially a preview of the 2027 rate environment.
What Borrowers Should Do With This Calendar
Count back six months from your mortgage maturity date. That is when to start the conversation with a broker. Most lenders will offer a rate hold at no cost, giving you a ceiling on your renewal rate while you wait to see how the 2027 decisions unfold.
If your maturity falls between the January and April decisions, a rate hold before January 27 means you can see an MPR before committing to a rate. If your maturity is in early 2027, that conversation should be happening now.
When to Talk to a Mortgage Broker
A broker can map your mortgage maturity date against the 2027 decision calendar and show you exactly when to lock in a rate hold, where MPR decisions fall before your renewal, and what the options look like under different rate scenarios.
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